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Qualcomm rallies on signs smartphone market slump is easing

After four quarters of decline in its mainstay smartphone business, Qualcomm is starting to see an end to the inventory pile-up in the Android business, with fresh orders coming in for its chips. Its revenue and profit projections for the last three months of the year were both above Wall Street estimates, with the company predicting a 35% quarter-on-quarter rise in sales to Chinese smartphone customers. CEO Cristiano Amon said Qualcomm expects to retain a "majority share" of the chi...
Shounak Dasgupta Cristiano Amon Samrhitha Arunasalam Canaccord Genuity Stacy Rasgon Wall Street
Source: yahoo.com

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