💨 Abstract

Qualcomm, a leading chip designer, forecasted higher-than-expected sales and profit for Q1 2023, driven by a recovering smartphone market and increased demand for AI applications. The company's shares rose 11% post-announcement. Despite this, investors remain concerned about the potential decline in revenue from Apple, which is developing its own modem chips. Qualcomm is also embroiled in a legal dispute with Arm over a key license.

Courtesy: theprint.in