Qualcomm Slides 7% on a Soft Outlook as a Memory Squeeze Hits Phones and Its $5 Billion Data Center Bet Takes Center Stage
Qualcomm edged past estimates with $2.17 in adjusted EPS and $10.44 billion in revenue, but a lighter outlook sent shares down about 7% after hours. Handset chip sales fell 26% as a memory shortage lifted phone prices, while automotive jumped 89% and the company is targeting $5 billion in data center revenue in fiscal 2027.
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