US Chipmaker Qualcomm Posts Record Sales: WSJ

Qualcomm posted record quarterly sales and forecast further growth amid surging demand for 5G smartphones amid supply-chain constraints, The Wall Street Journal reported.

Cristiano Amon, chief executive since June, said steps the US company has taken to assure parts supplies are starting to deliver results and should ease bottlenecks over the coming months.

“As we get to the second part of the year, I think, in general, supply and demand are going to be aligned,” he said on an earnings call. Qualcomm shares closed up 2.4%.

Read the full report: The Wall Street Journal

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.