Qualcomm Says ‘Strategy Is Working’ After Forecast Disappoints

Qualcomm Inc. Chief Executive Officer Cristiano Amon said the company’s push into new markets is going as planned, even after its outlook for revenue growth fell flat with investors.

“Our strategy is working,” he said Wednesday during a Bloomberg Television interview. “We’ve executed on what we said we were going to do.”

The remarks followed an investor presentation Tuesday where the chipmaker laid out growth targets for new product categories. Qualcomm, the world’s biggest seller of smartphone processors, has been pushing deeper into automotive parts and chips for connected devices. That’s included a bid to sell processors for personal computers ...