Qualcomm Forecasts, Shares Rise on Outlook
Analysis based on 6 articles · First reported Apr 29, 2026 · Last updated Apr 30, 2026
Despite Qualcomm forecasting lower third-quarter results, its shares rose significantly due to CEO Cristiano Amon's optimistic outlook on a smartphone market rebound and the company's strategic entry into the data center chip market. This indicates investor confidence in Qualcomm's long-term growth strategy, even as major customers like Apple Inc. and Samsung Electronics develop in-house chips.
Qualcomm forecast third-quarter revenue and adjusted profit below Wall Street expectations. However, CEO Cristiano Amon's positive comments about a recovery in the smartphone market and new opportunities in the data center chip business led to a 15% surge in Qualcomm's shares in extended trading. Qualcomm is confident the smartphone market will rebound after its fiscal third quarter, supported by insights from its licensing business. The company is actively working to enter the data center chip market, planning to ship products before the end of the year, including CPUs, inference accelerators, and custom ASICs. This strategic shift is partly in response to major customers like Apple Inc. and Samsung Electronics increasingly developing their own in-house chips. Qualcomm's acquisition of AlphaWave IP for $2.4 billion last year was aimed at strengthening its custom ASIC capabilities. The company also announced a $20 billion stock buyback program last month to reassure investors amidst a demand downturn.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard