Qualcomm shares fell 11% on Oct. 30 to close at $164.79 amid a chip sell-off triggered by Intel's weaker fourth-quarter revenue forecast and its warning that the PC slowdown could last until at least mid-2027. Handset chip revenue dropped 20% in the June quarter to $5.1 billion, hurt by tight memory supply and a much lower expected share of new iPhone launches, and Qualcomm forecast Apple revenue falling about 50% from the September to the December quarter. Guidance for fiscal fourth-quarter revenue is $9.7 billion to $10.5 billion, with non-GAAP EPS of $2.05 to $2.25. Two custom chip deals with large cloud companies are expected to start generating revenue in the December quarter, while automotive sales rose 61% to a record $1.6 billion. The author says the stock trades at about 17 times expected fiscal 2027 earnings, a little below the S&P 500's roughly 19 times, and is not in a rush to invest before the report, preferring to watch actual data center revenue.
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NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/03/2026 | 206.57 |
| Change that session | +2.23% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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