Qualcomm (QCOM) posted its first-quarter earnings results, revealing a quarterly revenue of $9.94 billion, $6.69 billion of which came from its handsets division, a 16% increase year-over-year. Despite the positive report and earnings beat, shares of the company are trending down Thursday morning.Qualcomm Chief Financial Officer and Chief Operating Officer Akash Palkhiwala joins Yahoo Finance to discuss the chipmaker's performance, the current transition to AI-based tech, and China's economic environment. Palkhiwala explains the transition to high-tech devices and how that will impact the business: "We're seeing this tremendous makeshift towards more expensive devices, towards more expensive chips, and that shows up in our revenue growth. Even in a relatively flat market over the last several years, we have tremendously grown our content for phone capabilities we have in any given device, and that shows up in our financial performance. We're excited about that. That's a trend that's held over the last few years. As we look forward, we don't see that changing." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

Read more --->