Qualcomm reports Q2 revenue down 3% YoY to $10.6B and says a top hyperscaler is on track to begin using its chips later this year; QCOM jumps 7%+ after hours
Qualcomm Inc. rallied in late trading after the company said it was making headway in the lucrative data center market and predicted …
$QCOM ripping on two things: 1/ Datacenter quote in the release: “We are equally excited by our entry into the data center, where a leading hyperscaler custom silicon engagement is on track for initial shipments later this calendar year.” 2/ Handsets bottom in Q3 The company
$QCOM dropped this new nugget on the call. They are officially in the custom ASIC game. Rumors had swirled they were engaged with Google (speculative, but it's likely Google on TPUs). I expect more at FA day in June. [image]