Chip gains: A Qualcomm sign at the company’s office in Santa Clara. The company’s shares have risen about 12.5% this year, below the 20.9% gain of the Nasdaq Composite Index. — Bloomberg
SAN FRANCISCO: Chip designer Qualcomm on Wednesday forecast first-quarter (1Q) sales and profit above Wall Street expectations, powered by a renewal of end-market demand in the smartphone industry.
Qualcomm is among the world’s biggest suppliers of the modem chips that connect smartphones to wireless data networks.
