Qualcomm sees revenue, profits above estimates; says supply chain is improving Stephen Nellis ,
By Stephen Nellis and Chavi Mehta
(Reuters) -Qualcomm Inc on Wednesday forecast current quarter sales and adjusted profits above Wall Street estimates, with executives saying they see supply constraints easing as smartphone buyers upgrade to 5G and former Huawei Technologies Co Ltd customers migrate to Qualcomm-chip phones.
Qualcomm shares rose 6% after the results were released.
Qualcomm is the world s biggest supplier of smartphone chips, providing key components for 5G connectivity. The San Diego, California-based company has resolved protracted legal fights with regulators and regained iPhone maker Apple Inc as a customer.
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INVESTORS INTERESTED IN FORD AND GM
After years of shunning the U.S. s two largest car
companies, investors are finally starting to kick the tires on
General Motors Co. and Ford Motor Co. Ford shares have surged about
20% this week and have risen about 35% in January, which would mark
their best month since April 2009. The move this week followed a
Deutsche Bank report suggesting Ford could give a
brighter-than-expected profit outlook for 2021 when it reports
fourth-quarter earnings on Feb. 4. GM s stock price also has
jumped about 35% this month, to a record level since shares began
trading in 2010, following the auto giant s bankruptcy a year