News about QCOM

Qualcomm (QCOM) shares fell about 7% early Thursday as investors reacted to a softer-than-expected outlook for the December quarter, even though fiscal fourth-quarter results beat estimates: non-GAAP earnings of $2.17 per share versus $2.16 expected, and revenue of $10.32 billion to $10.44 billion. Handset chip revenue dropped 26% year over year to $5.14 billion, reflecting higher memory costs and lower modem demand as Apple develops its own technology. Qualcomm guided to adjusted earnings of $2.15 to $2.35 per share, with the midpoint below analyst estimates, raising concerns about near-term growth. Automotive revenue rose nearly 89% year over year to about $1.99 billion, a counterpoint that highlights efforts to reduce dependence on smartphone-related sales.

ETFs bought $112.7 million of Qualcomm (QCOM) shares on Tuesday, with 41 funds adding to positions and 15 trimming them, extending a 3-day streak of positive ETF flows. Net inflows were $60.5 million on Nov. 2 and $54.0 million on Oct. 30, after a $15.3 million outflow on Oct. 29. The largest buyer was AVLV, which added $50.7 million and raised its stake by 25.65% to 1,511,201 shares, followed by IVV ($2.9 million) and SPY ($2.7 million). Qualcomm, in the Technology sector and Semiconductors industry, has a market cap of $184.9 billion, and ETFs were net buyers on 4 of the last 5 reported days.

A federal jury in Delaware found that Arm Holdings breached a key architectural licensing agreement with Qualcomm and interfered with its business relationship with Meta Platforms, awarding Qualcomm nominal damages of US$2. The verdict confirms Qualcomm's right to continue custom CPU development under the license, which the article says gives clearer legal footing for its Oryon CPU roadmap. The article links this to Qualcomm's expanded Amazon collaboration on custom AI data center silicon, which could help offset pressure on handset and modem revenue. It also cautions that Qualcomm still faces concentrated customer risk and potential margin pressure if handset volumes weaken faster than its diversification efforts progress.