Qualcomm (NASDAQ:QCOM) dropped 5.08% to $166.93 as of 11:49 a.m. ET, as investor concerns over smartphone revenue growth overshadowed the company's better-than-expected fiscal first-quarter results and positive outlook.
During the earnings call, CFO and COO Akash Palkhiwala acknowledged a sequential decline in QCT handset revenues due to seasonality and lower Apple (AAPL) shipments, but noted that year-over-year growth is expected, fueled by increased shipments for Samsung's Galaxy S25.
Despite positive results, analysts pointed to Apple's internal modem ramp and uncertainty around Qualcomm's licensing business (QTL) without Huawei as potential risks.
This article first appeared on GuruFocus.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.