Qualcomm Rises on Smartphone Rebound Hopes, Data-Centre Chip Push

Qualcomm said on Wednesday that its third quarter results will be lower than expected, but CEO Cristiano Amon gave a positive view about a recovery in smartphone sales and growth in data centres, pushing shares up 15 percent after hours. The company has faced uncertainty as rising memory chip prices increased device costs, leading customers to cut spending on phones and PCs.

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