Qualcomm Value Surpasses Intel’s on Robust Smartphone Demand
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Qualcomm Inc. gained a bigger market value than Intel Corp. for the first time after it forecast results that topped analysts’ predictions, adding to evidence that smartphones are gaining ground at the expense of computers.
Shares of San Diego-based Qualcomm jumped 7.1 percent to $62.24 as of 11:09 a.m. in New York, giving the largest seller of mobile-phone semiconductors a market capitalization of about $106 billion, higher than Intel’s $105 billion.