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CNBC reported Wednesday that Apple Inc.
AAPL, + 1.15%
does not hold negotiations for settlement with Qualcomm Inc.
QCOM, -0.46%
concerning an ongoing dispute over royalties. The report, which quotes an anonymous source unfamiliar in this area, said that Apple was preparing for a lawsuit on this matter. Apple argued that it was illegal for Qualcomm to charge a patent license fee when the smartphone maker was using its modems in its devices, while Qualcomm said the company owed him $ 7 billion royalties. CNBC said the case should be judged next year. Apple did not immediately respond to a request for comment from MarketWatch. Its shares are up 0.9% on Wednesday, while shares of Qualcomm are down 0.5%. Apple stocks rose 18% in the last 12 months, while the Dow Jones Industrial Average index
DJIA, + 1.01%
has climbed 10%.
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