Qualcomm ‘positive’ on Trump administration as it forecasts chip sales growth

Qualcomm said on Tuesday it was “positive” on President-elect Donald Trump’s incoming administration and not concerned that proposed U.S. tariffs on China would dampen its business in the country from which it derives nearly half its revenue.

Qualcomm executives made the remarks at an investor event in New York during which the company forecast $22 billion in combined revenue over the next five years from laptops, cars and other products outside its current stronghold in smartphones, a sharp growth from its latest fiscal year.