Reported about 6 hours ago
Qualcomm, the leading smartphone processor manufacturer, announced a positive sales and profit forecast that exceeded Wall Street predictions, yet its stock declined by 3% following the report. Despite strong demand in the high-end Android market and efforts to diversify into automotive and data center chip sales, the company faced challenges, including a $5.7 billion writedown affecting profits and a missed expectation for greater upside growth. The firm is also working on new AI technologies to enhance its market position amid rising competition.
Source: YAHOO