Qualcomm stock was up 1.8% in after-hours trading following the release. This is breaking news. Read a preview of Qualcomm’s earnings below and check back for more analysis soon

Qualcomm on Wednesday forecast sales and profits above analyst expectations as artificial intelligence features helped fuel demand for smartphones, and its share price fell after the bell on expectations of flat revenue from its patent licensing business.

With solid fundamentals and healthy revenue-generating potential driven by robust demand trends, QCOM appears to be a healthy investment bet.

Qualcomm stock is lower Thursday even after the chipmaker reported strong earnings and gave an encouraging outlook. This is what investors need to know.