Qualcomm shares jump as optimism on smartphones, AI chips outweigh dismal forecast

Qualcomm shares jumped 10.3% before the bell after management expressed optimism about a recovery in the smartphone business and new data center opportunities, despite a weak third-quarter forecast. The move suggests investors are focusing more on the longer-term growth narrative than near-term guidance pressure. The article points to improving sentiment around core handset demand and AI/data center exposure.

Analysis

Qualcomm shares jumped 10.3% before the bell after management expressed optimism about a recovery in the smartphone business and new data center opportunities, despite a weak third-quarter forecast. The move suggests investors are focusing more on the longer-term growth narrative than near-term guidance pressure. The article points to improving sentiment around core handset demand and AI/data center exposure.