Qualcomm stock drops 7% on weak earnings forecast as memory shortage weighs on smartphone sales
AIQualcomm reported quarterly revenue of $10.32 billion and adjusted earnings of $2.17 per share, both slightly above LSEG estimates. Its forecast of $2.15 to $2.35 per share on $10.4 billion to $11.2 billion in revenue fell short of the $2.27 per share and $10.48 billion analysts expected, and the stock slid in extended trading.
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