Qualcomm forecasts beats estimates, shares jump 8.5%

Quick Summary:

:Chip designer Qualcomm on Wednesday forecast sales and profit in the current quarter would exceed Wall Street estimates as the company benefits a wave of launches of flagship Chinese smartphones, and its shares rose 8.5 per cent in extended trading.

Apple is working on its own modem chips, and Qualcomm has warned investors that the iPhone maker will stop using its chips at some point.

In an annual filing on Wednesday, Qualcomm said Apple has "utilized modem products of one of our competitors in some of its devices rather than our product" but did not name the competitor.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth KoreaTaiwan

Topics: Quarter Smartphone Estimates Billion Sales Street Qualcomm Wall Shares Company Apple

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 05:05:17 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 651 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23453530

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