Alphabet discloses $548 million worth of Qualcomm stake
Alphabet said on Friday it held nearly 3 million shares, or a stake worth $547.9 million, in chipmaker Qualcomm as of September. Qualcomm shares rose more than 3% in premarket trading. The Google parent has also increased its position in Elon Musk’s SpaceX to about 555 million shares from 551.2 million earlier. Qualcomm earlier this week irked investors when it missed Wall Street expectations for…
Alphabet disclosed on Friday that it holds nearly 3 million shares, valued at $547.9 million, in chipmaker Qualcomm as of September. The Google parent's stake in the semiconductor company rose more than 3% in premarket trading. Meanwhile, Alphabet has expanded its ownership in SpaceX to around 555 million shares, up from 551.2 million earlier.
The company faced criticism from investors earlier this week after it missed Wall Street expectations for smartphone chip sales due to weak demand. Despite this, Qualcomm had forecast better-than-expected revenue for its nascent data-center segment.
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- Alphabet discloses US$548 million worth of Qualcomm stake businesstimes.com.sg
