:Chip designer Qualcomm on Wednesday forecast sales and profit in the current quarter would exceed Wall Street estimates as the company benefits a wave of launches of flagship Chinese smartphones, and its shares rose 8.5 per cent in extended trading. Qualcomm 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