Qualcomm Inc. (QCOM) has issued an upbeat sales outlook, boosted by the chipmaker's anticipation of a resurgence in smartphone demand from China. To delve deeper into this forecast, Qualcomm' Chief Financial Officer Akash Palkhiwala joins Yahoo Finance anchor Julie Hyman.

Palkhiwala states that the company is "very happy" with the current dynamics in the smartphone market, citing a trend of Android users gravitating "toward more premium devices." Looking ahead, the CFO reveals that Qualcomm is embarking on its "first steps" to integrate generative AI capabilities into devices, with the aim to extend this technology into the company's automotive and PC sectors in the future.

Palkhiwala highlights that the integration of generative AI has already started within the company's hardware offerings. However, the primary focus moving forward will be on enhancing use cases and features within premium devices.

"We're at the front end of a multiyear trend, and we're excited about what the devices can do with this capability," Palkhiwala told Yahoo Finance. "There's an upside opportunity for us if this drives an upgrade cycle in smartphones."

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This post was written by Angel Smith