Apple ‘Feels Good’ About Qualcomm Resolution
One of the key things analysts were itching to ask Apple was the company’s resolution with Qualcomm. But Apple did not exactly elaborate about the resolution, with CEO Tim Cook only saying that the company is happy to put the litigation behind them and to have a direct license and supply agreement with the San Diego chipmaker. “We feel good about the resolution,” Cook said.
The only clue we got about the Apple-Qualcomm settlement is when someone questioned CFO Luca Maestri about gross margins. Maestri noted that Apple isn’t going to share financial details of the settlement, but pointed toward gross margin guidance for the June quarter — which “fully comprises” the company’s agreement with Qualcomm. Notably, that guidance hasn’t changed at all since Q2 2019. It’s still between 37 and 38 percent.