Reported 1 day ago
Qualcomm Inc. saw its stock drop over 6% in late trading after reporting only 7% growth in phone chip sales for the recent quarter, falling short of analysts’ expectations. Concerns about tariffs impacting the industry contributed to the downturn, as other chip manufacturers also provided cautious outlooks. Despite a revenue rise in vehicle-related chips and connected devices, Qualcomm faces challenges from Apple's move to produce its own modem chips.
Source: YAHOO