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Qualcomm Gives Solid Outlook in Sign of Smartphone Recovery

(Bloomberg) -- Qualcomm Inc., the world’s biggest seller of smartphone processors, gave an upbeat forecast for sales and profit in the current period, suggesting demand for handsets is increasing after a two-year slump.Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketUS and Saudis Near Defense Pact Meant to Reshape Middle EastNYPD Arrests Over 300 Protesters in Crackdown on College CampusesThe Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Enti...
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Qualcomm forecast beats estimates as AI revives smartphone market

Qualcomm on Wednesday forecast fiscal third-quarter sales and adjusted profit above Wall Street expectations, driven by a faster-than-expected recovery in smartphone markets thanks to artificial-intelligence features. The company has also branched out into selling chips for cars and devices such as headphones, which in the second quarter helped it beat Wall Street expectations. The company said its sales to Chinese smartphone makers have grown 40% in the first half of its fiscal year, a sign o...
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