Why Qualcomm Shares Are Falling Today: Next-Quarter Guidance Highlights Headwinds
Portfolio Pulse from Vaishali Prayag
Qualcomm Inc. (NASDAQ:QCOM) shares fell by 9.52% to $163.72 after releasing its fiscal third-quarter earnings. Despite beating revenue and EPS estimates, the company's guidance for the next quarter highlighted potential headwinds, including the revoking of its license to sell to Huawei. Analysts had mixed reactions, with some raising price targets and others expressing concerns over future guidance and Huawei's impact.
August 01, 2024 | 7:48 pm
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Qualcomm's shares fell by 9.52% following its fiscal third-quarter earnings report. Despite beating revenue and EPS estimates, the company's guidance for the next quarter highlighted potential headwinds, including the revoking of its license to sell to Huawei. Analysts had mixed reactions, with some raising price targets and others expressing concerns over future guidance and Huawei's impact.
Qualcomm's stock price dropped significantly due to concerns over future guidance and the impact of Huawei's export restrictions, despite strong Q3 earnings. Analysts' mixed reactions further contribute to the uncertainty.
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