Qualcomm advances on smartphone market revival, Chinese handset launches
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Qualcomm's shares increased by over 8% following a positive first-quarter forecast, driven by a recovery in the smartphone market and new Chinese handset launches.
November 07, 2024 | 11:30 am
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Qualcomm's stock rose over 8% due to a positive first-quarter forecast, supported by a recovering smartphone market and new Chinese handset launches.
The article highlights Qualcomm's strong first-quarter forecast, which exceeded Wall Street estimates. This positive outlook is attributed to a recovery in the smartphone market and the introduction of new Chinese handsets, directly benefiting Qualcomm's business. As a result, the stock price increased by over 8%, indicating a positive short-term impact.
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