Qualcomm Shares Gain Despite Forecast

Qualcomm Inc. saw its shares jump in after-hours trades on Wednesday despite a forecast that was below Wall Street’s projections for the current quarter.

The move was attributed to investors predicting a bottom for the wireless chip maker that has shed about 16% of its value since its last earnings report, when Qualcomm warned of an industrywide shortage of 28-nanometer chips of the type used in the latest smartphone devices. Qualcomm maintained its view on Wednesday that the supply situation is expected to improve by the end of the calendar year.

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