Qualcomm Stock Rallies as Smartphone Sales Rebound in China, Company Forecasts Strong Quarterly Results
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Qualcomm stock rallies as smartphone slump shows signs of easing, led by recovery in China
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Qualcomm forecasts strong Q1 results above Wall Street estimates, predicts 35% quarterly sales growth in China
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Qualcomm retains majority share of chips in new Samsung phones, downplays Huawei competitive threat
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Some analysts upbeat on Qualcomm citing smartphone inventory reduction, others cautious on timing of full recovery
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Qualcomm stock little changed in 2022, trades at lower valuation multiple than semiconductor peers like Nvidia