Qualcomm Shares Drop 12% Following Fourth Quarter Results Amid Margin Pressure
Qualcomm (QCOM) shares fell 12% in premarket trading following the release of its fourth-quarter financial results. The decline comes as analysts express concerns regarding weakening smartphone demand, driven largely by rising memory prices which are impacting consumer purchasing power. Market analysts have responded by lowering price targets for the company, citing significant margin pressures and a continued loss of modem market share to Apple. These headwinds suggest a challenging outlook for Qualcomm's handset segment in the near term.
Topics: analyst downgrades earnings miss smartphone demand stock price drop
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Part of the story Qualcomm Shares Drop Despite Beating Earnings Estimates Due to Weak Guidance and Mobile Slump (8 articles)