Qualcomm Faces Headwinds in Handset Revenue Ahead of Fiscal Fourth-Quarter Earnings
Qualcomm (QCOM) is approaching its fiscal fourth-quarter earnings report on November 4, amid significant volatility in the semiconductor sector. The company has faced recent pressure, including an 11% share price drop following broader industry sell-offs triggered by Intel's cautious outlook. Qualcomm's handset business continues to struggle, with chip revenue declining 20% year-over-year in the June quarter due to memory supply constraints and reduced iPhone integration estimates. Despite these challenges, investors are looking toward new growth drivers. Management expects to realize revenue from two custom data center chip deals starting in the December quarter, part of a long-term goal to reach $15 billion in data center revenue by fiscal 2029. Additionally, the automotive segment has shown robust momentum, reaching a record $1.6 billion in the June quarter, representing a 61% year-over-year increase.
Topics: Data Center Chips Handset Revenue Market Sell-off Semiconductors
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