QUALCOMM and Nvidia compete to provide chips for smartphones and tablets.
On Thursday, Nvidia accused QUALCOMM and Samsung of using its patented technologies without a license in Samsung's devices, including the recently released Galaxy Note 4 and Galaxy Note Edge, Reuters reported.
Nvidia also alleged Britain's ARM Holdings (ARMH) , and Imagination Technologies infringed on its patents, but did not say if it planned on suing those companies, but it did request that the U.S. Internal Trade Commission prevent shipments of Samsung devices containing QUALCOMM, ARM, or Imagination technology, Reuters said.
Shares of QUALCOM are down by -0.17% to $74.99 in mid-morning trading today.
Separately, TheStreet Ratings team rates QUALCOMM INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate QUALCOMM INC (QCOM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."