Qualcomm stock rises on $10 billion buyback plan

Qualcomm Inc.
QCOM
shares rose in the extended session Tuesday following the chip maker stated its board experienced approved $10 billion in share repurchases. Qualcomm shares rose 1.6% soon after several hours, subsequent a 1.6% decline to close the common session at $122.95. The corporation said the new $10 billion strategy adds to its buyback plan announced in July 2018, which has $900 million of buyback authorization remaining. Qualcomm shares have declined 3% above the earlier 12 months, in contrast with a 23% increase in the S&P 500 index
SPX,
a 22% gain on the tech-hefty Nasdaq Composite Index
COMP,
and a 31% get on the PHLX Semiconductor Index
SOX.

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