Qualcomm shares fall 7% after weak earnings guidance despite beating expectations

Source Summary

Qualcomm reported better-than-expected quarterly results but issued a weak forward earnings forecast, prompting a 7% decline in its stock price. The company cited memory shortages and softening smartphone sales as headwinds affecting its outlook.

Why it matters

Qualcomm's weak guidance signals deteriorating demand in the smartphone market and supply-chain constraints that could affect the broader semiconductor industry.

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• CNBC ↗