Alphabet discloses $548 million worth of Qualcomm stake
Qualcomm earlier this week irked investors when it missed Wall Street expectations for quarterly smartphone chip sales due to weak demand, even though it forecast better-than-expected revenue for its nascent data-center segment.
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 $548 million worth of Qualcomm stake channelnewsasia.com
- Alphabet discloses $548 million worth of Qualcomm stake brecorder.com
- Alphabet discloses US$548 million worth of Qualcomm stake businesstimes.com.sg
