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Qualcomm shares jump 15% as CEO Cristiano Amon signals smartphone rebound and data center growth, despite Q3 revenue and profit forecasts missing analyst estimates.
Qualcomm predicts a rebound in the smartphone market after its fiscal third quarter.
KEY POINTS
- Qualcomm will begin shipping data center chips for CPUs, inference accelerators, and custom ASICs this year.
- Qualcomm's data center strategy includes custom ASICs enabled by last year's $2.4 billion AlphaWave acquisition.
- Qualcomm's Q3 revenue and chip segment forecasts are entirely below analyst estimates despite positive outlooks.
COMPANIES
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