Here's why Qualcomm's stock price popped 23%

Shares of Qualcomm soared 23% Tuesday – and remained up Wednesday – in the wake of a late-afternoon filing with the Securities and Exchange Commission, wherein the company announced that it reached a "multi-year" "global patent license agreement" and "chipset supply agreement" with Apple that settles the companies' yearslong intellectual property litigation and appears likely to work out to the benefit of both parties. In said filing with the SEC, Qualcomm states that as of April 1, 2019, it has directly licensed its relevant patents to Apple for at least the next six years, with the option to extend the agreement for an additional two years. Moreover, Qualcomm will supply chipsets to Apple for use in the latter's devices for several years at least. In exchange, Apple will make a one-time payment of an unspecified amount to Qualcomm, and pay continuing royalties to boot – also in an amount unspecified. Robotic advances: Mush! Watch a team of Boston Dynamics' SpotMini robot dogs pull a truck down the street Finally, "all worldwide litigation" between the two combatants "will be dismissed and withdrawn," including lawsuits against Apple's contract manufacturers. Qualcomm is expected to report earnings on May 1, at which time the company promises to provide "further updates" on the details of its agreement with Apple.