Nov 6 (Reuters) -

Chip designer Qualcomm ( QCOM ) on Wednesday forecast sales

and profit in the current quarter to come in above Wall Street

estimates as the company tries to break into the personal

computer market while it vies against rivals for a piece of a

recovering smartphone market.

Qualcomm ( QCOM ) said it expects sales and adjusted profits for its

fiscal first quarter, which will cover the holiday shopping

season in U.S. and European markets, with a midpoint of $10.90

billion and $2.95 per share. Wall Street expected $10.59 billion

and $2.86 per share, according to data from LSEG.

For the fiscal fourth quarter ended September 29, Qualcomm ( QCOM )

said sales and adjusted profits were $10.24 billion and $2.69

per share, compared with analyst expectations of $9.91 billion

and $2.56 per share.

The San Diego, California-based company is the biggest

supplier of smartphone chips and is benefiting from a recovery

in the smartphone markets as consumers upgrade devices for

artificial intelligence applications such as chatbots and image

generators.