Qualcomm stock rises on $10 billion buyback plan

Published Oct 12 2021 at 9:02 PM GMT
  • QCOM shares rose in the extended session Tuesday after the chip maker said its board had authorized $10 billion in share repurchases.
  • Qualcomm shares rose 1 6% after hours, following a1 6% decline to close the regular session at $122.
  • The company said the new $10 billion plan adds to its buyback program announced in July 2018, which has $900 million of buyback authorization remaining.
  • Qualcomm shares have declined 3% over the past 12 months, compared with a 23% rise in the S&P 500 index SPX, a 22% gain on the tech-heavy Nasdaq Composite Index COMP, and a 31% gain on the PHLX Semiconductor Index SOX.
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  • Published Oct 12, 2021 9:02 PM GMT