Alphabet revealed on Friday that it owned nearly 3 million shares of Qualcomm, valued at $547.9 million as of September. The revelation comes shortly after Qualcomm disappointed investors by missing Wall Street expectations for quarterly smartphone chip sales because of sluggish demand. In addition to its investment in Qualcomm, the Google parent company expanded its stake in Elon Musk's SpaceX.
Key points
Alphabet revealed on Friday that it owned nearly 3 million shares of Qualcomm, valued at…: Alphabet revealed on Friday that it owned nearly 3 million shares of Qualcomm, valued at $547.9 million as of September.
The revelation comes shortly after Qualcomm disappointed investors by missing Wall Street…: The revelation comes shortly after Qualcomm disappointed investors by missing Wall Street expectations for quarterly smartphone chip sales because of sluggish demand.
In addition to its investment in Qualcomm, the Google parent company expanded its stake i…: In addition to its investment in Qualcomm, the Google parent company expanded its stake in Elon Musk's SpaceX.
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Nov 6 : Alphabet said on Friday it held nearly 3 million shares, or a stake worth $547.9 million, in chipmaker Qualcomm as of September.
Qualcomm shares rose more than 3 per cent in premarket trading.
The Google parent has also increased its position in Elon Musk's SpaceX to about 555 million shares from 551.2 million earlier.
Qualcomm earlier this week irked investors when it missed Wall Street expectations for quarterly smartphone chip sales due to weak demand, even though it forecast better-than-expected revenue for its nascent data-center segment.
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