Broadcom may be looking to acquire Qualcomm for $100 billion
Qualcomm has been in news quite a lot for some time now for different reasons. Now it might be making headlines soon again as according to a report, the chipmaker giant, Broadcom is looking to acquire Qualcomm.
Qualcomm stock is going up since the news broke. It is now selling for $61.81, around $7 more than it was a few hours ago. According to Bloomberg, Broadcom is ready to spend more than $100 billion to acquire Qualcomm and it is going to be the biggest ever take over of a chipmaker ever. Qualcomm’s net worth right now is $91 billion and it is increasing since the news broke.
Qualcomm is already facing multiple legal battles with Apple. And the legal difficulties resulted in the 90% drops in profit. Here’s what Qualcomm had to say after the huge loss:
“The reason that we’re pursuing this is that Qualcomm‘s trying to charge Apple a percentage of the total iPhone value, and they do some really great work around standards-essential patents, but it’s one small part of what an iPhone is.”
Moreover, Apple is planning to no longer use Qualcomm’s chips in its upcoming devices which will drop its value even more. Apple will consider chipsets from MediaTek and Intel instead.
Despite all these ongoing battles, Broadcom is still planning to acquire Qualcomm. However, it is only a report for now and it might be completely wrong.