Qualcomm Gives Upbeat Forecast, Lifted by 5G Phone Demand
- Chipmaker sees supply constraints easing by end of year
- Qualcomm also is pushing into new markets, such as computers
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Qualcomm Inc., the world’s largest smartphone chipmaker, delivered a bullish quarterly forecast, helped by the growth of 5G networks and consumer demand for new devices.
Earnings will be $2.15 to $2.35 a share in the period ending in September, the company said Wednesday, well ahead of the average projection of $2.07. Revenue will be $8.4 billion to $9.2 billion, compared with an estimate of $8.5 billion.