Qualcomm forecasts strong first quarter as Apple ramps up 5G iPhone models

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.Revenue from the company's chip segment, its largest by sales, was $4.97 billion (£3.82 billion) in the fiscal fourth quarter, compared with FactSet estimates of $4.59 billion.