Internal Qualcomm documents showed the chip firm estimated it could eventually save as much as $1.4 billion a year on payments to Arm , by purchasing a little-known startup in 2021, according to evidence shown at a trial on Wednesday.

On Qualcomm, Rasgon kept an Outperform rating and a $215 price target; on Arm, he assigned an Underweight rating and a $100 target. Since there were no agreement terms broken, he pointed out that the jury's conclusions made Arm unlikely to revoke Qualcomm's architectural license.

Arm Holdings' lawsuit against Qualcomm ended on Friday with a jury delivering a mixed verdict that found for Qualcomm on a crucial issue, saying Qualcomm had properly licensed its central processor chips.