Qualcomm shares dropped Thursday after Wall Street digested a surprise weakness in sales to Apple for its iPhone and margin lows not seen in nearly 3 years.
Qualcomm Inc. shares dropped Thursday after Wall Street digested a surprise weakness in sales to Apple Inc. for its iPhone and margin lows not seen in nearly three years.
Qualcomm QCOM shares fell more than 8% to an intraday low of $103.50 in morning trading, and were last down 6.8%, on track for their worst day since Nov. 3 when shares closed down 7.7%. Evercore ISI analyst C.J. Muse, who has an in-line rating and a $120 price target, said higher RF underutilization and higher foundry prices were “weighing on margins” for the “worst level since September 2020.”
“Obviously, a key focus for investors from here is the trajectory into [the second half of 2023] and 2024. Here, we note a more upbeat outlook from management focused on ever-growing content, and getting paid for that expertise,” Muse said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Qualcomm stock slides as outlook falls short of Wall Street expectationsQualcomm Inc. shares decline in the extended session Wednesday after the chip maker's outlook fell short of Wall Street estimates.
Consulte Mais informação »
Apple Users Experience Issues With Pay, Card, Cash AppsApple was experiencing widespread issues with its Apple Pay, Apple Card and Apple Cash apps Tuesday morning, the company said on it’s support web page.
Consulte Mais informação »
QCOM Stock Price | Qualcomm Inc. Stock Quote (U.S.: Nasdaq) | MarketWatchQCOM | Complete Qualcomm Inc. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Consulte Mais informação »
PacWest slump tanks banks but investors are thirsty for Lemonade, and other big movers premarketQualcomm dips after results with forecasts pointing to weakening demand in the hand-set sector
Consulte Mais informação »
Qualcomm gives light forecast, phone chip sales fall 17%Qualcomm shares are down in extended trading after the company released second quarter earnings results.KristinaParts has the details.
Consulte Mais informação »
Qualcomm outlook grim as smartphone sales stay weakQualcomm Inc on Wednesday forecast third-quarter revenue and profit below Wall Street estimates, saying the smartphone industry would take longer to use up excess chips before fresh orders flow in.
Consulte Mais informação »