Qualcomm forecasts strong first quarter as Apple, others ramp up 5G phones

Qualcomm's shares were up 14% in extended trading.The San Diego-based company is the biggest supplier of processors for smartphones and modem chips that connect phones to wireless data networks.It has invested heavily in developing lucrative 5G technology hoping to profit as it becomes mainstream in mobile phones, a trend poised to ramp up with the introduction of Apple's first 5G phones last month.