The fact that a federal jury ruled in favor of Qualcomm (NASDAQ:QCOM) on two of three counts in its lawsuit with Arm Holdings (NASDAQ:ARM) is seen as a "clear win" for the San Diego-based chipmaker, Wall Street analysts said.

In 2022, Arm ignited a legal battle after Qualcomm continued to pay its existing royalty fees to Arm, which were allegedly much lower than what Nuvia was paying. After the two failed to come to an agreement, Arm argued the designs licensed to Nuvia were no longer valid, and that Qualcomm should destroy the technology created with them.