Qualcomm stock pops on Apple supply deal

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-- China escalated its defense of the yuan by delivering a strong verbal warning to speculators and forceful guidance to investors with its daily reference rate, measures that pushed the managed currency away from a 16-year low.

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Qualcomm to supply Apple with 5G chips until 2026 under new dealQualcomm on Monday said it had signed a new deal with Apple to supply 5G chips to the iPhone maker until at least 2026. Qualcomm, whose shares rose more than 8% in premarket trading, is the leading designer of what are known as modem chips that connect phones to mobile data networks. The San Diego, California-based firm previously signed a supply deal with Apple in 2019, after the two companies settled a protracted legal battle.
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