Chipmaker Qualcomm forecasts upbeat revenue, warns of trade-curb impact

Chipmaker Qualcomm forecast fourth-quarter revenue above Wall Street estimates on Wednesday, betting on strong demand for high-end Android devices and the need for more chips in smartphones that are getting AI upgrades.

Shares of San Diego, California-based Qualcomm had risen more than 5% in extended trading, but pared gains to fall over 1% after the firm flagged a revenue hit from the U.S. revoking one of its export licenses for sanctioned Chinese telecom firm Huawei Technologies.