I love how everyone claims to know who "caved." Patent license agreements are generally lengthy and confidential, so unless you were involved in the settlement negotiations, you have no knowledge of the specific terms that each party agreed to -- except for the general press release that was approved by the parties.
Most patent cases settle because patent litigation is very risky for both parties -- especially when a jury of lay people is being asked to decide questions about complicated technology. So this was a smart decision by both Qualcomm and Apple.