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Qualcomm jumps as AI sparks rebound in Chinese smartphone market

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Islanders flock to Charlottetown Flea Market for affordable finds amid rising costs | SaltWire - Qualcomm shares rose 4% in premarket trading on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump.

"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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