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Qualcomm Stock Surges 15% After-Hours on Data Center Chip Breakthrough; China Phone Demand Expected to Recover

GateNews

2026-04-30 01:21:46

According to Qualcomm CEO Cristiano Amon on April 30, the company will begin delivering data center chips to a major hyperscale cloud operator later this year, marking a key breakthrough into the AI infrastructure market. Amon also stated that China’s smartphone market is expected to bottom out in the third quarter and resume sequential growth thereafter.

Qualcomm reported second-quarter revenue of $10.6 billion, down 3% year-over-year, with net income of $7.4 billion, up 162%. The company’s handset business declined 13% to $6.02 billion amid storage chip price pressures, while automotive revenue hit a record $1.33 billion, up 38%.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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