SAN DIEGO (KGTV) - Thousands of Qualcomm employees went to work Tuesday no longer facing the threat of Broadcom's hostile takeover.
President Trump blocked the $117 billion bid from Singapore-based Broacom on Monday, citing national security concerns.
But Qualcomm is still facing several uncertainties.
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The San Diego-based tech giant last week saw its executive chairman, Paul Jacobs, step down; it is still in a legal battle with Apple, and has faced international fines due to alleged anti-competitive practices.
The Broadcom bid will free up Qualcomm to improve its own performance.
"It's one less hurlde because there's enough stuff the company has to deal with instead of worrying who is at the back of us," said Nikhil Varaiya, a finance professor at San Diego State University.
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One Qualcomm worker, who declined to give his name, said employees were breathing a sigh of relief.
San Diego's economic officials are as well.
The San Diego Regional Economic Development Corporation recently reported that the company has a $4.9 billion annual economic impact, equivalent to 35 Comic-Cons.
Nikia Clarke, the organization's vice president, said Qualcomm also plays a role in recruiting tech companies and talented workers to San Diego.
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"Qualcomm has so long been an anchor of that innovation economy, and as our largest employer, of course, everyone int he region and certainly all of us in the office were watching very closely," Clarke said.
Varaiya said he expects Qualcomm to focus on developing its 5-G technology, and its acquisition of NXP Semiconductors, to boost its performance.