Qualcomm becomes world's most valuable IC company.
A sparkling set of figures for calendar Q3 from Qualcomm saw the stock market push its shares to a level where its market cap pipped Intel’s – $106bn to $105bn.
Although Intel’s revenues are more than twice Qualcomm’s – at $50bn to $20bn - the expectations for the San Diego company are greater.
Qualcomm had a 37% rise in fiscal year revenues of $19bn for a $5.68bn profit. The company is expecting to grow 23% next year.
In terms of cash, Qualcomm now has $26.8bn cash in hand and no debt. This contrasts with Intel’s $10bn in cash with $7bn debt.
The stock market’s greater optimisim for Qualcomm’s prospects pushed its shares up to a level where it overtook Intel to become the world’s most valuable IC company measured by market capitalisation.