Qualcomm Inc (NASDAQ:QCOM) shares are rising on Friday, getting a boost from Intel’s blowout first‑quarter results.
- Qualcomm stock is charging ahead with explosive momentum. What’s behind QCOM gains?
Intel’s Big Beat Sets The Tone
Intel Corp (NASDAQ:INTC) shares jumped in premarket trading after the company posted a far stronger quarter than Wall Street anticipated. Intel reported 29 cents in earnings per share, easily topping the one cent consensus estimate, and delivered $13.58 billion in revenue, well ahead of expectations and up from last year’s $12.67 billion.
That read‑through is helping Qualcomm, as improving demand across the chip supply chain tends to benefit multiple players, even those operating in different end markets.
AI and Data Center Momentum
Intel highlighted that AI‑related revenue now makes up about 60% of its total business and grew 40% year over year. Its Data Center and AI segment generated $5.1 billion in revenue, up 22% from last year and 7% sequentially, with a 31% operating margin.
This matters for Qualcomm …