Qualcomm shares 9% slump as weak smartphone chip sales overshadow data-center momentum
Qualcomm's shares dropped significantly in early trading following disappointing smartphone chip sales. The company's largest business segment faced a 26% revenue decline, leading to lower overall chip sales. While Qualcomm's investments in data-center and automotive chips strengthen its growth potential, analysts remain skeptical about immediate earnings. Brokerages have reduced their price targets on Qualcomm's stock after...
Key Takeaways
- Qualcomm's shares dropped significantly in early trading following disappointing smartphone chip sales.
- The company's largest business segment faced a 26% revenue decline, leading to lower overall chip sales.
- While Qualcomm's investments in data-center and automotive chips strengthen its growth potential, analysts remain skeptical about immediate earnings.
Qualcomm's shares dropped significantly in early trading following disappointing smartphone chip sales. The company's largest business segment faced a 26% revenue decline, leading to lower overall chip sales. While Qualcomm's investments in data-center and automotive chips strengthen its growth potential, analysts remain skeptical about immediate earnings. Brokerages have reduced their price targets on Qualcomm's stock after recent results were released.
Original Publisher Attribution
This summary was curated from Economic Times.