Qualcomm drops after smartphone chip sales miss estimates
In short
Qualcomm shares fell more than 6% after its fourth-quarter smartphone chip sales came in below estimates. The report says weak demand and lower Apple-related revenue hurt results.
What the reporting says
Qualcomm shares fell over 6% after fourth-quarter smartphone chip sales missed estimates. The weakness was tied to sluggish demand and declining Apple-related revenue.
Why it matters
Qualcomm shares slid after fourth-quarter smartphone chip sales missed estimates, with the summary pointing to sluggish demand and declining Apple-related revenue.