Nvidia CEO Huang Recommends Buying Qualcomm Stock on June 8, Shares Rise 2% After-Hours

Nvidia CEO Jensen Huang publicly recommended Qualcomm stock during Apple's Worldwide Developers Conference (WWDC) on June 8, stating "Buy their stock" when asked about Nvidia's smartphone chip ambitions. Qualcomm shares rose about 2% in after-hours trading following his remarks. Huang noted that Nvidia does not excel in mobile device business and sees no need to compete directly with Qualcomm in that space, acknowledging that Qualcomm performs very well in the sector.
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