The hits keep on coming for Qualcomm (QCOM), but not the kind of that will put it on any best seller list.
A federal jury has found that rival Broadcom’s (BRCM) video products do not infringe on Qualcomm patents.
Since the US International Trade Commission recently found that some of Qualcomm’s wireless chips infringe on Broadcom patent claims, it means the QCOM is losing across the board.
Qualcomm is fighting with almost all of its competitors and even some of it customers. On top of that antitrust authorities in several countries are looking into the company’s practices.
The fight between Qualcomm and its largest customer, Nokia (NOK) has gotten so bad that Qualcomm will try to stop the sales of some Nokia products when the licensing agreement between the two firms expires in early April.
As the lawsuits and tension mounts, Qualcomm’s position against its adversaries appears to get worse and worse. The stock, which currently trades at $37.50, against a 52-week low of $32.76, could certainly drop below $30 without much of a push.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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