News broke yesterday that Apple (NASDAQ:AAPL) filed suit against Qualcomm (NASDAQ:QCOM) for patent infringement involving the Snapdragon chips. Qualcomm filed a suit of its own the same day. Now Qualcomm sues Apple, again.
Qualcomm accuses Apple of violating 16 of its patents including power-saving tech and camera autofocus in devices from the iPhone 7 to the new premium iPhone X.
Qualcomm also filed its complaint with the U.S International Trade Commission and wants to ban import and sales of certain iPhones – namely, those with Intel chips.
Read Qualcomm’s California court filing at RPX Insight.
In better news for Apple, Piper Jaffray analyst Michael Olson says the iPhone X will lead to a longer “super cycle” and the company “may be increasingly well positioned to experience a strong multi-year iPhone trajectory.”
Olson expects Apple to release three OLED iPhones next year and calls the devices the iPhone X’s “offspring.”
Olson reiterates his Overweight rating on Apple and $200 price target, despite news that Qualcomm sues Apple again.
Apple shares are up 1.4%.
Qualcomm shares are up 0.3%.
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