Alphabet said it held nearly 3 million Qualcomm shares worth $547.9 million as of September. Qualcomm stock rose in premarket trading, days after the chipmaker missed expectations for smartphone chip sales.
Alphabet disclosed a Qualcomm stake worth $547.9 million, saying on Friday it held nearly 3 million shares of the chipmaker as of September. Qualcomm shares rose more than 3% in premarket trading.
The Google parent also raised its position in Elon Musk's SpaceX to about 555 million shares from 551.2 million earlier.
Qualcomm irked investors earlier this week when it missed Wall Street expectations for quarterly smartphone chip sales because of weak demand. It did forecast better-than-expected revenue for its nascent data-center segment.
Source: Reuters via Investing.com
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