Qualcomm Slumps On Apple News; IDT Jumps On Earnings Beat

Wireless-communications chipmaker Qualcomm (QCOM) sank Tuesday on a report that customer Apple (AAPL) plans to stop using its chips.

Meanwhile, industry peer Integrated Device Technology (IDTI) jumped after posting better-than-expected fiscal second-quarter results.

Qualcomm fell sharply on a report by the Wall Street Journal that Apple is designing iPhones and iPads for next year that would jettison the chipmaker's components. Apple and Qualcomm are locked in a legal fight over patent...

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