Qualcomm’s Bet on 5G Pays Off

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Qualcomm’s Bet on 5G Pays Off
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The success of Qualcomm's strategy—accelerate spending on 5G while staring down existential threats—has pushed the stock to highs not seen since 2014

Through more than two years of takeover threats and legal strife, Qualcomm Inc. trained its focus on the future promises of 5G. That fixation is paying off so far.

The chip maker’s lead in fifth-generation wireless technology persuaded the Trump administration last year to block a hostile bid by Broadcom Inc. out of national-security concerns. It helped muscle Apple Inc. to the table to settle a patent-royalty dispute on Tuesday and it contributed to Intel Corp.’s decision to discontinue developing rival 5G modem chips for...

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