New York, – Intel technology leader Wednesday led the stock gains in the Industrial Dow Jones group, in the middle of a negative session on Wall Street, after announcing yesterday that it will not manufacture modem chips for 5G smartphones.
The withdrawal of Intel from that race by 5G came after the agreement reached between Qualcomm and Apple, which also revalued, to end all legal disputes related to patents held open in various parts of the world.
Thus, an hour and a half before the end of the session Wall Street, Intel boosted the Dow with an advance of 3.25%, followed by Apple, which rose by 1.70%, while Qualcomm rose strongly in the Nasdaq index, 11.81%
Precisely analysts say that the decision of Intel gives wings to Qualcomm with respect to a key component for the new generation of mobile phones that is expected to dominate the market over the next few years, and leaves few competitors in that market segment.
The “peace” reached between Apple and Qualcomm includes a multi-year agreement for Qualcomm to be Apple’s supplier of these chips, which was a major setback for Intel, which three years ago became the supplier of the apple company in detriment of Qualcomm.
When the news was released on Tuesday afternoon, with a joint statement, Qualcomm’s stock skyrocketed and ended the session revalued by 23%, while Apple shares remained relatively the same.
After the shutdown, Intel sent a statement in which its CEO, Bob Swan, said he was “excited by the opportunities of 5G” but indicated that “in the business of modem chips for smartphones there seems to be no clear path to profitability and positive results. “
In the electronic operations of Wall Street, which occur while the floor is closed, Intel shares fell, but during the session on Wednesday took the lead in the Dow Jones group, which groups the 30 largest listed and US. UU (EFEUSA)