Qualcomm issues disappointing earnings forecast as memory shortage weighs on smartphone sales
Qualcomm reported quarterly revenue of $10.32 billion that beat Wall Street estimates, but its earnings came in lighter than expected as rising memory costs weighed on smartphone sales. CEO Cristiano Amon stated that the company faces a supply issue rather than a demand issue in its growing data center business, where Qualcomm expects $5 billion in revenue in fiscal 2027. Open article →
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