Qualcomm Falls on Concerns About Slowing Smartphone Growth
- Chipmaker’s outlook for royalty revenue may fall short
- Company reported quarterly sales, profit that topped estimates
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Shares of Qualcomm Inc., the world’s biggest seller of smartphone processors, fell on investor fears that demand for new handsets will stall in the coming year.
Revenue in the period ending in March will be $10.3 billion to $11.2 billion, the company said Wednesday in a statement. Of that, the company’s licensing business will generate $1.25 billion to $1.45 billion. That compares with an average analyst projection of $1.4 billion.