Qualcomm Inc (NASDAQ: QCOM) shares spiked 12% during the after-hours session Wednesday. The surge came as the chipmaker said it foresees the demand for 5G smartphones to double the shipments next year, with a forecasted range between 450 million to 550 million smartphones.What Happened: Aside from smartphones, the company also expects to gain from the Internet of Things and networking gears segments, according to the Wall Street Journal.On Wednesday, Qualcomm released its financials for the fourth quarter and the fiscal year ended Sept. 27. GAAP revenues of $23.53 billion for fiscal 2020 fell by 3% year-over-year, whereas GAAP diluted earnings …read more
Source:: Yahoo Finance
