Written by StockNews.com

The dispute between Apple Inc. (Nasdaq: AAPL) and QUALCOMM, Inc. (Nasdaq: QCOM) took another turn late Monday, with Qualcomm counter-suing Apple on the grounds that the iPhone maker has violated agreements between the two companies.

The move comes almost three months after Apple filed its own lawsuit against Qualcomm, claiming the chipmaker didn’t provide agreed-upon royalty rebates, and also accused the company of engaging in anticompetitive licensing practices for its wireless technologies.

Qualcomm has fired back strongly with executive VP and general counsel Don Rosenberg saying in a statement regarding the filing:

“Apple could not have built the incredible iPhone franchise that has made it the most profitable company in the world, capturing over 90 percent of smartphone profits, without relying upon Qualcomm’s fundamental cellular technologies. Now, after a decade of historic growth, Apple refuses to acknowledge the well established and continuing value of those technologies…

Apple has launched a global attack on Qualcomm and is attempting to use its enormous market power to coerce unfair and unreasonable license terms from Qualcomm. We intend to vigorously defend our business model, and pursue our right to protect and receive fair value for our technological contributions to the industry.”

Qualcomm is seeking compensatory and punitive damages from Apple in unnamed amounts to be determined during a jury trial, and also wants to be released from any obligation to make further payments to Apple.

Back in January, the FTC alleged that Qualcomm required Apple to use its wireless chips exclusively from 2011 to 2016. In exchange for the exclusive usage, where Apple couldn’t use competitors’ chips, the company received lower patent royalties.

…Year-to-date, AAPL has gained 24.15%, versus a 5.74% rise in the benchmark S&P 500 index during the same period.

AAPL currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 27 stocks in the Technology – Hardware category.