U.S. district court judge Lucy Koh's ruling in favor of the U.S. Federal Trade Commission in its case against Qualcomm (QCOM) "may appear daunting," but it is unlikely to change the reality for the company, argues Morgan Stanley analyst James Faucette, who views today's selloff as a buying opportunity. The FTC case focused on standard essential patents, but all of Qualcomm's agreements outside of China, including its recent agreement with Apple (AAPL), bundle SEP and non-SEP together, according to Faucett, who added that Qualcomm "has full pricing power over" non-SEP pacts. Also, Koh's ruling is similar to findings in Taiwan and Korea and he believes Qualcomm was able to adjust its licensing agreements in those countries to be consistent with local rulings, Faucette tells investors. The analyst, who thinks the "headlines read more negatively than they should," keeps an Overweight rating and $95 price target on Qualcomm shares.

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Welcome to "Fly Insider," The Fly's weekly recap of notable insider stock transactionsNOTABLE INSIDER PURCHASES: Significant insider purchases reported in the prior week from April 15 through April 19 include:Chairman of Ashford (AINC) Montgomery Bennett purchased 200,000 shares of company stock at $4. 91 per share... To see the rest of the story go to thefly.com. See Story Here

Apple quietly acquired Paris-based AI startup Datakalab on December 17, Challenges' David Pargamin reports. The terms of the transaction could not be learned, but European Commission has been notified of the deal, the author notes. Reference Link

Friday's total option volume of 56.7 million contracts resulted in net open interest growth of 6.01 million calls and 5.28 million puts. NVIDIA (NVDA), Tesla (TSLA), Apple (AAPL) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 50k Lyft (LYFT) May-24 20 calls, 44k Energy Transfer (ET) 4/26 weekly 16.5 calls, 43k Las Vegas Sands (LVS) Sep-24 41 calls, 23k Tesla (TSLA) 4/26 weekly 162.5 calls and 21k Papa John's (PZZA) Jun-24 57.5 puts.