Qualcomm Enjoys Smartphone Boom
(QCOM - Get Report)
blew past Street targets
on Wednesday, thanks to strong smartphone sales.
"We are very pleased to report record revenues, earnings per share," said Qualcomm CEO Paul Jacobs, in a press release. "Chipset shipments this quarter [were] driven by increased demand for smartphones and data-centric devices across an expanding number of regions and price points," Jacobs continued.
Qualcomm shares ended the week down $1.18, or 2.15%, at $53.72.
Symantec's Turnaround Continues
(SYMC - Get Report)
topped Wall Street's third-quarter estimates
and offered healthy guidance Wednesday.
"I think that the company is definitely gaining momentum right now," said Enrique Salem, the Symantec CEO, in an interview with
. "We saw a good spending environment in the December quarter. Growth of information is increasing [and] there were also high-profile attacks like WikiLeaks that are making people aware that they have to protect their information."
Symantec shares, however, ended the week down 45 cents, or 2.53%, at $17.46, mirroring the broader retreat in tech stocks.
Tech's State of the Union
The tech sector featured prominently in Tuesday's
state of the Union address
with the President stressing the importance of investing in technology and education.
Companies like Google and
are models of American success, he said, emphasizing the key role that technology will take towards creating new jobs in the country.
Nokia's OS Plans
(NOK - Get Report)
is expected to announce
a new operating system partnership
during the company's analyst day Feb. 11. Analysts say Microsoft's Windows Phone 7 or Google's Android software are the likely choices.
Nokia shares ended the week up a penny, or 0.09%, at $10.57.
Tech's Week Ahead
It's another big earnings week for tech next week, with U.K. chipmaker
, Chinese search giant
posting results on Tuesday.
are also on deck.
On Wednesday, with Apple,
Rupert Murdoch will announce the first iPad-only newspaper,
, at a flashy New York City event.
Thursday, Verizon will start taking pre-orders for the new Apple iPhone.
--Written by James Rogers in New York.
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