Qualcomm and Apple have renewed their global patent licence agreement, with the new agreement taking effect April 1, 2027. At first glance, it looks like a routine licensing update. But there’s a bigger story here. 📱 Apple is still building its own modem technology, but this agreement suggests Qualcomm will remain an important part of Apple’s connectivity strategy beyond the current contract period. For $QCOM, that removes an important source of uncertainty around one of its biggest customers. For $AAPL, it provides more flexibility while Apple continues developing its in-house modem capabilities. The interesting part is the balance: 🔹 $QCOM: Greater visibility around future licensing revenue and its relationship with Apple 🔹 $AAPL: More certainty around supply and technology planning 🔹 Ap