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HomeBusinessQualcomm stock rises on $10 billion buyback plan

Qualcomm stock rises on $10 billion buyback plan


Qualcomm Inc.
QCOM,
-1.59%

shares rose in the extended session Tuesday right after the chip maker claimed its board experienced authorized $10 billion in share repurchases. Qualcomm shares rose 1.6% immediately after hours, following a 1.6% drop to shut the standard session at $122.95. The business stated the new $10 billion approach provides to its buyback program announced in July 2018, which has $900 million of buyback authorization remaining. Qualcomm shares have declined 3% about the earlier 12 months, as opposed with a 23% rise in the S&P 500 index
SPX,
-.24%
,
a 22% obtain on the tech-weighty Nasdaq Composite Index
COMP,
-.14%
,
and a 31% gain on the PHLX Semiconductor Index
SOX,
-1.34%
.



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