Chip designer Qualcomm forecast first-quarter sales and profits above Wall Street targets on Wednesday as a smartphone sales slump finally starts to ease and...
- Chip designer Qualcomm forecast first-quarter sales and profits above Wall Street targets on Wednesday as a smartphone sales slump finally starts to ease and a renewed contract with Apple helps boost its outlook.
Chipmakers have been grappling with a smartphone market slump. Qualcomm is also facing new competition from Huawei Technologies, which has resumed producing its own smartphone chips after relying on the U.S. company for the past several years. Fourth-quarter sales in Qualcomm's chip unit were $7.4 billion, beating analysts' estimate of $7.26 billion according to FactSet data. In Qualcomm's intellectual property licensing business, sales of $1.26 billion were in line with estimates of $1.25 billion according to FactSet data.
Steve Ballmer joined Microsoft in 1980 as Bill Gates' assistant, became CEO in 2000, and retired in 2014 with a 4% stake that's worth a fortune today.NEW YORK -Shares of Nvidia Corp dropped by about 5% to a near five-month low on Tuesday following a Wall Street Journal report that the artificial intelligence giant may be forced to cancel up to $5 billion worth of advanced chip orders to China in compliance with new U.S. government restrictions.
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