Chipmaker Qualcomm forecasts upbeat revenue on smartphone strength, AI boost

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 the San Diego, California-based chipmaker rose more than 5% in extended trading, adding to year-to-date gains of over 24% as Wall Street invests heavily in the technology that powers generative artificial intelligence.