Qualcomm Forecast Beats Analysts’ Expectations as AI Energizes Smartphone Market ...Middle East

A Qualcomm trade show booth. REUTERS/Aly Song Qualcomm on Wednesday forecast fiscal third-quarter sales and adjusted profit above Wall Street expectations, driven by a faster-than-expected recovery in smartphone markets thanks to artificial-intelligence features. The San Diego-based wireless pioneer forecast third-quarter sales and adjusted profit with midpoints of $9.2 billion and $2.25 per share, beating analyst estimates of $9.05 billion and $2.17 per share, according to LSEG data. Shares were up 3% after the results in volatile after-hours trading. Qualcomm is the world’s biggest supplier of chips for smartphones and counts both Apple and Samsung as customers. The company’s

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