"Qualcomm's AI-Powered Growth: Smartphone and Automotive Sales Surge"

Qualcomm's first-quarter earnings report showed a 16% increase in revenue from its handsets division, driven by a shift towards more expensive devices and chips, reflecting consumers' demand for more use cases and capabilities in their smartphones. The company's CFO and COO, Akash Palkhiwala, highlighted the trend of increased content per phone and the transition to AI-based technology, which is expected to drive further growth and differentiation in the market. Additionally, Qualcomm is optimistic about the demand for its new chips in PCs and the strong demand for its products in China, despite concerns about the country's economic environment.