Qualcomm rises on smartphone rebound hopes, data-center chip push
Qualcomm forecast third-quarter results below expectations, but CEO Cristiano Amon’s upbeat comments on a recovery in its core smartphone business and data center opportunities pushed its shares up 15% in extended trading.
In an interview with Reuters, Amon said the chipmaker was confident that the smartphone market will start to rebound after its fiscal third quarter.
“We can now call the bottom,” Amon said, adding that the company’s licensing business, which beat estimates, gives it insights into smartphone makers’ plans for later in the year.
