The battle between Apple and Qualcomm could have been really ugly and the stakes were high. Before the trial really got started, it ended with Apple and Qualcomm having reached an agreement so both could go back to business.

The settlement includes a payment from Apple to Qualcomm as well as a chipset supply agreement, suggesting that Apple will buy Qualcomm chips for future iPhones. The companies did not say how much the payment will be.

The new agreement would suggest that Apple will be using 5G modems from Qualcomm, but the nitty gritty details were not made public yet. The question is timing. Will Apple be able to launch at least one iPhone with a 5G modem in September? While I think that it's possible, only time will tell as more details come to light in the coming days, weeks and months.

Both Apple and Qualcomm put out the same press release here.

Update 3:42 p.m. PST: Qualcomm's stock has soared after the deal with Apple was announced as you could see from the chart below. You could check it's current price here. Apple's stock on the other hand didn't move at all (AAPL).

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