0939 GMT - Qualcomm shares slip premarket as investors weigh a number of factors outside of the chip maker's control despite strong results for its fiscal first quarter, JPMorgan analysts write in a note to clients. Investors are concerned about the company losing business with Apple should the iPhone maker replace Qualcomm's chips in some phone models with in-house versions, the analysts say. Geopolitical headwinds, including the expiration of an agreement with Huawei, is also weighing on investors' minds, they say. Qualcomm stock closed 1.6% higher at $175.86 ahead of results on Wednesday. Shares are down 4% premarket, touching a low of $167.94. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 04:39 ET (09:39 GMT)
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