News Assessment
Qualcomm made investors smile when it reported expectation-topping earnings late Wednesday. The company is widely known for its mobile processors, but also makes chips destined for internet of things devices, and for auto makers—two segments that grew revenue by 83% apiece in the fiscal-third quarter. Executives in the earnings call said the company would have been able to report even better results if it could secure more manufacturing capacity. The company said it is working to acquire it. Evercore ISI analyst C.J. Muse wrote late Wednesday that the company’s emphasis in its earnings call
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