Qualcomm reported a plunge in net earnings for the fourth quarter of its fiscal year, to $168 million, or 11 cents per diluted share, compared to $1.6 billion, or $1.07 per diluted share, in the same period in 2016.
The saga kicked off almost a year ago, in January 2017, when Apple first filed a lawsuit against Qualcomm for allegedly abusing its market position to extract more money from hardware manufacturers. Broadcom rose 5.5 percent, for a market valuation of about $112 billion.
The bid comes as Broadcom plans to move its headquarters to the United States from Singapore, President Donald Trump said on Thursday at a White House event where Chief Executive Hock Tan cited Republican tax efforts.
Qualcomm declined to comment, while Broadcom did not immediately respond to a request for comment.
Qualcomm may soon be extended a way out courtesy of Broadcom, which itself supplies Apple with Wi-Fi and Bluetooth combo chips. This week, Broadcom said it would move its headquarters from Singapore back to the USA, where it lists an HQ in San Jose, California.
A change of management at Qualcomm might help resolve the dispute with Apple more quickly, and thereby make Qualcomm's licensing and chip businesses more valuable, according to Sanford C. Bernstein & Co. analyst Stacy Rasgon.
The only other major supplier of high-end chips is Intel Corp, which supplies about half of the modem chips in Apple's iPhones. A legal battle with Apple is costing revenue and jeopardizing a business model that for years made Qualcomm one of the most successful chipmakers.
Also, the $100 billion buyout would be the largest purchase of a chipmaker, so Broadcom and Qualcomm will need to make strong cases for such a purchase.
Both firms have been in the news the last few days.