Sales to Chinese smartphone makers jumped 40% in the first half of its fiscal year, the company said, as buyers there gravitate toward higher-priced devices that can accommodate AI chatbots.
"They further represent an upside for Qualcomm because majority of the recovery is also going to be driven by Chinese OEMs this year, coming from a tough last two years." The company, the biggest supplier of smartphone chips, was on course to add more than $8 billion to its market value based on premarket movements. Other semiconductor firms such as Arm and Broadcom rose 2.8% and 2.4%, respectively.
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