This coming from U.S. District Judge Lucy Koh. She sided with the Federal Trade Commission(FTC) who said Qualcomm QCOM 79.45 +1.24 +1.59% used it’s dominant position in the CDMA and LTE modem chip market to squeeze rivals out of contracts and force mobile phone makers to pay more for its patents.
The FTC filed the lawsuit in 2017, accusing the chipmaker of “anticompetitive” tactics, mirroring similar antitrust claims made by iPhone maker Apple AAPL 240.34 +3.93 +1.66%.
Qualcomm said it disagreed with the judge and will seek a stay on the judgment.
This comes after Qualcomm already took a shot as a supplier directly affected by the blacklisting of Huawei.
Barron’s timing on this article couldn’t have been worse… https://www.barrons.com/articles/qualcomm-stock-buy-huawei-sales-ban-51558471801