Apple-Qualcomm tussle to hit earnings

Qualcomm fell 2.1%, the most in more than two months, to $55.35

Qualcomm’s countersuit against Apple threatens a relationship that helped both companies rake in billions of dollars as leaders of the smartphone revolution.
 

The acrimony in Apple’s suit and Qualcomm’s response late Monday raises the prospect of Qualcomm losing a big portion of the revenue it gets from one of its biggest customers. For Apple, it suggests doubt about the iPhone’s ability to remain a prestige product without the chipmaker’s wireless technology.

“The war between the companies appears to be growing,” Sanford C Bernstein analyst Stacy Rasgon wrote in a note to investors on Tuesday.

Apple says Qualcomm uses market dominance to illegally