Qualcomm and Apple have recently entered into a new agreement wherein Qualcomm will provide 5G chips to Apple until at least 2026. As a result, Qualcomm’s shares surged by over 8 percent in premarket trading. Known for its expertise in designing modem chips that facilitate mobile data network connections on smartphones, Qualcomm, headquartered in San Diego, California, resolved a long-standing legal dispute with Apple in 2019.