Qualcomm (QCOM.O) exceeded Wall Street expectations with its quarterly sales and profit forecast, driven by increased demand for its high-end chips featuring AI capabilities in Android smartphones, particularly in China’s recovering market.
The company reported a 40% sales growth to Chinese smartphone makers, signaling a rebound in the region.
CEO Cristiano Amon highlighted the growing importance of AI in smartphones, driving demand for more powerful devices.
Qualcomm’s optimistic outlook contrasts with cautious forecasts from competitors, indicating its strong position in the market.
The company aims to capitalize on the trend toward AI-equipped devices and plans to release chips for laptops this summer.
Overall, Qualcomm’s chip and licensing segments are performing well, driven by robust demand across all product categories.
