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☆ Qualcomm banks on AI to get a bigger share of the automotive chip market
▼ + stars: | 2023-08-31 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Qualcomm is best known for the chips and modems inside Android phones. But in recent years, it's also started selling a package of hardware chips, sensors and software called Snapdragon Digital Chassis to automakers like GM , Hyundai and Volvo. It reported $1.32 billion in sales in its fiscal 2022, or about 3% of the company’s overall sales. Qualcomm makes between $200 and $3,000 per car that use its chips and software, officials said last fall at an investor event. Qualcomm faces stiff competition from other chipmakers in the car chip business.

Persons: it's Organizations: Qualcomm, GM, Hyundai, Volvo, Apple, Android, Computer, Intel, Nvidia, NXP Semiconductors, Bosch

☆ Paul Jacobs, Former Qualcomm Boss, to Run Satellite Company Behind Apple’s SOS Service
▼ + stars: | 2023-08-29 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/telecom/former-qualcomm-ceo-to-lead-company-powering-apples-satellite-text-service-7134d7dc

Persons: Dow Jones Organizations: qualcomm

☆ Apple partner Globalstar taps former Qualcomm exec Jacobs as CEO
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Aug 29 (Reuters) - Globalstar (GSAT.A) on Tuesday named former Qualcomm (QCOM.O) top boss Paul Jacobs as its CEO, sparking a near 20% surge in the shares of the satellite firm behind Apple's emergency communication services. Jacobs, 60, is also a board member of IPO-bound chip firm Arm and will replace David Kagan, who is retiring after about 5 years as CEO. It will pay XCOM licensing fees including the issuance of about 60 million common stock shares valued at around $64 million. "Some of XCOM's leaders contributed to the original Globalstar system while at Qualcomm." Iridium Comunications (IRDM.O) partnered with Qualcomm earlier in May to develop emergency SOS messaging for Android users, going head-to-head with Apple.

Persons: Paul Jacobs, Jacobs, David Kagan, Globalstar, Jay Monroe, Arsheeya, Devika Organizations: Qualcomm, XCOM Labs, Apple, Iridium, Thomson Locations: Bengaluru

☆ 'Absolutely formidable': Analyst names her top chipmaker and explains why it has the edge
▼ + stars: | 2023-08-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

South Korean giant Samsung Electronics has an edge over other semiconductor companies, according to Hannah Gooch-Peters of asset management firm Sanlam Investments UK. Semiconductor firms have "to massively invest," Gooch-Peters said. Samsung produces dynamic random access memory chips and NAND chips. And you know … if you've got generative AI you need these memory chips to be able to use it," she added. It also has its very stable smartphone business, Gooch-Peters said.

Persons: Hannah Gooch, Peters, Gooch, Samsung's, it's, you've Organizations: Samsung Electronics, Sanlam Investments, CNBC, Semiconductor, Samsung, Taiwan Semiconductor, Qualcomm, Tesla, Intel, Sony, Korea Exchange, London Stock Exchange, Luxembourg Stock Exchange, Korea ETF, BetaShares Asia Technology Tigers Locations: Korea, Asia

☆ Globalstar CEO Paul Jacobs talks Apple partnership and competition with SpaceX
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobalstar CEO Paul Jacobs talks Apple partnership and competition with SpaceXPaul Jacobs, Globalstar CEO and former Qualcomm CEO, joins 'Closing Bell Overtime' to talk competing with Elon Musk's SpaceX, the cost of launching satellites and partnering with Apple.

Persons: Paul Jacobs, SpaceX Paul Jacobs Organizations: Apple, SpaceX, Qualcomm, Elon

☆ China's EV slowdown drags down Nvidia's 'next billion-dollar business'
▼ + stars: | 2023-08-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nvidia automotive segment primarily sells chip systems for assisted driving. Colette Kress Nvidia's Chief Financial OfficerThe $253 million segment revenue was also well below the $309.3 million forecast by a FactSet analyst poll. Although still a fraction of the chipmaker's business, automotive revenue has grown rapidly from just over $100 million a quarter two years ago. Bloomberg | Bloomberg | Getty ImagesCounterpoint's Wang pointed out that Nvidia's products are concentrated in the high-end automotive segment. Analog Devices on Wednesday reported automotive revenue of $747.6 million for the three months ended July 29, down by 5% from the prior quarter.

Persons: Jensen Huang, Alex Wong, Huang didn't, Colette Kress, Brady Wang, Xpeng, Xpeng's, Xinzhou Wu, Xiaopeng, Huang, Counterpoint's Wang, David Wong Organizations: Nvidia, Getty, Local, Counterpoint Research, Nvidia Nio, Bloomberg, NVIDIA, Robotics, Nomura, Qualcomm, China Passenger Car Association Locations: BEIJING, China, Xpeng, Santa Clara , California

☆ Google, Amazon, Nvidia and other tech giants invest in AI startup Hugging Face, sending its valuation to $4.5 billion
▼ + stars: | 2023-08-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Hugging Face, an AI firm based in New York, has raised $235 million at a $4.5 billion valuation from some of technology's biggest companies. Hugging Face CEO Clement Delangue said the funds are to be focused on hiring talent to be competitive in the artificial intelligence space. He hopes that AI developers will rely on Hugging Face on a daily basis to get their work done. And if all of them use Hugging Face all day, every day, we'll obviously be in a good position," he said. Hugging Face hosts 500,000 different AI models, 250,000 data sets, and has 10,000 paying customers, the company said.

Persons: Clement Delangue, OpenAI, BLOOM, Delangue Organizations: Google, Nvidia, Salesforce, AMD, Intel, IBM, Qualcomm, Microsoft, Facebook, Meta, CNBC, IDEFICS Locations: New York

☆ AI startup Hugging Face valued at $4.5 bln in latest round of funding
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Aug 24 (Reuters) - AI startup Hugging Face said on Thursday it was valued at $4.5 billion in a $235-million funding round backed by technology heavyweights, including Salesforce (CRM.N), Alphabet's (GOOGL.O) Google and Nvidia (NVDA.O). The latest round of funding outlines the rapidly growing adoption of artificial intelligence (AI), which has been hailed by many as the next frontier of technology and has attracted some of the biggest investors in Silicon Valley. Following the launch of OpenAI's popular chatbot ChatGPT, several AI startups like Microsoft-backed (MSFT.O) Inflection AI and Google-backed Runway have raised funds. Intel (INTC.O), Advanced Micro Devices (AMD.O), Qualcomm (QCOM.O), IBM (IBM.N), Amazon (AMZN.O) and Ashton Kutcher-backed venture capital firm Sound Ventures also participated in Hugging Face's latest funding round. "In five years, every tech company will be an AI company," Delangue added.

Persons: Ashton Kutcher, Face's, Clément Delangue, Delangue, Shubhendu Satish Deshmukh, Niket, Shweta Agarwal Organizations: Google, Nvidia, Microsoft, Intel, Devices, Qualcomm, IBM, Sound Ventures, Thomson Locations: Silicon Valley, Bengaluru

Virtually all of that revenue comes from Arm China, an independent entity that has the exclusive rights to distribute Arm's technology in the country. That makes Arm China, not better-known names like Apple (AAPL.O) or Qualcomm (QCOM.O), Arm's largest customer. And this customer has a history of late payments and presents "significant risks" to Arm's business, according to its filing. HISTORY OF LATE PAYMENTSArm said in its filings that "in the past, we have received late payments from Arm China and have had to expend company resources to obtain payments from Arm China." In its filing, it said cash from operating activities increased by $281 million in its most recent fiscal year, driven mostly by $713 million in collections from Arm China, though that was partly offset by cash owed to Arm China.

Persons: Dado Ruvic, SoftBank, Allen Wu, Wu, Stewart Randall, Yelin, Max A, Cherney, Stephen Nellis, Matthew Lewis Organizations: REUTERS, Arm Holdings, U.S, Softbank Group Corp, Apple, Qualcomm, SoftBank, Arm Technology, Co, Hopu Investments, Chief, longtime, Hopu Investment, Arm, San, Thomson Locations: China, Arm China, U.S, Shanghai, Yelin Mo, Beijing, San Francisco

☆ US FTC to probe Qualcomm's purchase of Israel's Autotalks - Politico
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Autotalks and Qualcomm logos are seen in this illustration taken, May 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 22 (Reuters) - The U.S. Federal Trade Commission (FTC) is expected to open an in-depth probe on Wednesday of Qualcomm’s (QCOM.O) purchase of Israeli auto-chip maker Autotalks, Politico reported on Tuesday, citing people familiar with the matter. In May, Qualcomm had said it would acquire Israel's Autotalks Ltd, a maker of chips used in crash-prevention technology in vehicles, but had not disclosed the terms of the deal. Autotalks, which makes dedicated chips used in the V2X communications technology sector for manned and driverless vehicles, would help Qualcomm expand its automotive-related business. Qualcomm, Autotalks and the FTC did not immediately respond to requests for comment.

Persons: Dado Ruvic, Autotalks, Granth, Maju Samuel Organizations: Qualcomm, REUTERS, U.S . Federal Trade Commission, Politico, Israel's Autotalks, EU, Autotalks, FTC, Thomson Locations: France, Ireland, Italy, Netherlands, Poland, Spain, Sweden, Bengaluru

☆ Arm IPO to put SoftBank's AI hard sell to the test
▼ + stars: | 2023-08-21 | by ( Anton Bridge | ) www.reuters.com time to read: +4 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The billionaire also said he has spent months creating hundreds of inventions with AI-powered ChatGPT that he believes can be realised through Arm. Analysts also caution that Arm does not sit at the centre of the AI boom but is more AI-adjacent. Nvidia has developed a "superchip" for use in data centres - the GH200, which contains CPUs based on Arm architecture. Many SoftBank portfolio companies will embrace and apply generative AI but that does not make them AI companies," said Victor Galliano of Galliano's Latin Notes, who publishes on Smartkarma.

Persons: Dado Ruvic, Masayoshi Son, Son, SoftBank, Kirk Boodry, it's, Boodry, Rolf Bulk, Victor Galliano, Anton Bridge, Edwina Gibbs Organizations: REUTERS, Rights, SoftBank, Nasdaq, SoftBank Group, Vision Fund, Astris Advisory, Fund, Nvidia, New, Research, Qualcomm, Apple, Google, Thomson Locations: Astris Advisory Japan, Saudi

Arm, the chip designer owned by Japan's SoftBank, filed for a Nasdaq listing on Monday, positioning itself to go public during a historically slow period for tech IPOs. Arm's 2023 revenue was slightly down from the company's 2022 sales of $2.7 billion. Arm chips are made by companies including Amazon, Alphabet, AMD, Intel, Nvidia, Qualcomm, and Samsung, according to the filing. Arm said that its technology was included in over 30 billion chips shipped in its fiscal 2023. SoftBank originally sought to sell Arm to chip giant Nvidia , but the deal faced major pushback from regulators, who raised concerns over competition and national security.

Persons: Japan's SoftBank, confidentially, SoftBank Organizations: London Stock Exchange, AMD, Intel, Nvidia, Qualcomm, Samsung Locations: U.S

☆ Rosenblatt names its top picks to play the ‘age of A.I. gold rush’
▼ + stars: | 2023-08-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Rosenblatt is calling out its favorite networking and semiconductor stocks as the "age of AI gold rush" kicks into high gear. That's creating an attractive setup for what Rosenblatt views as the "picks and shovels" in the networking and semiconductor industries. "Most large enterprises want to train and run large AI applications in the Cloud, but only a small portion of existing Cloud infrastructure can support it." Beyond the pure-play semiconductor names tied to AI, Rosenblatt is placing its bets on Coherent . Ambarella is another beneficiary of the growing need for to handle sophisticated AI models, down about 17% this year.

Persons: Rosenblatt, It's, Mike Genovese, Kevin Cassidy, — CNBC's Michael Bloom Organizations: AMD, Nvidia, Qualcomm, Rambus Locations: Ambarella

☆ EU to assess Qualcomm's planned takeover of Israel's Autotalks
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

Autotalks and Qualcomm logos are seen in this illustration taken, May 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Qualcomm Inc FollowBRUSSELS, Aug 18 (Reuters) - The European Commission said on Friday it would carry out a regulatory assessment of Qualcomm's (QCOM.O) planned takeover of Israel's Autotalks. Qualcomm cannot implement the transaction before notifying and obtaining clearance from the Commission," the European Commission said in a statement. Qualcomm announced the planned takeover in May as the U.S. company looks to expand its automotive-related business. Autotalks makes dedicated chips used in the vehicle-to-everything (V2X) communications technology sector for manned and driverless vehicles, with a view to improving road safety.

Persons: Dado Ruvic, Autotalks, Sudip Kar, Jason Neely Organizations: Qualcomm, REUTERS, European, European Commission, Thomson Locations: Israel's, U.S

☆ Premarket stocks: How China's economic turmoil could hurt your portfolio
▼ + stars: | 2023-08-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Why it matters: “For most of the last two decades, China’s economic growth has been a major driver of the global economy,” said Alex Etra, a strategist at data analytics firm Exante. That means that if China’s economy slows down, global economic growth slows down. ExxonMobil (XOM) may not be doing too much business with China, said Etra, but if Chinese growth slows, that means oil prices go down. Earlier this year, Bank of America compiled a list of the S&P 500 companies with the highest exposure to China. The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion last year, according to the annual Credit Suisse and UBS global wealth report.

Persons: Joe Biden, BlackRock, ”, Alex Etra, Michael Burry’s, Allison Morrow, That’s, Jason Hart, Winn, ” Hart, “, Ramishah Maruf Organizations: CNN Business, Bell, New York CNN, country’s National Bureau of Statistics, ExxonMobil, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, Funds, PitchBook, Michael Burry’s Scion Asset Management, Moore Capital Management, D1 Capital, Tiger Global, Securities, Exchange, Credit Suisse, UBS, Millionaires, Aldi, Dixie, Winn, CNN Locations: New York, Beijing, China, Ukraine, United States, Aldi, Winn

☆ China does Intel a small favor
▼ + stars: | 2023-08-16 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 16 (Reuters Breakingviews) - Intel (INTC.O) can thank China later. The chipmaker on Wednesday terminated its $5.4 billion acquisition of Tower Semiconductor (TSEM.TA), after failing to secure approval from the country’s State Administration for Market Regulation. Beijing’s trustbusters are providing a helpful escape route from the intensifying technology trade war. Reuters GraphicsAdding Tower would have helped Intel boss Pat Gelsinger with his strategic pivot to making semiconductors designed by others. Tower uses old technology, however, while Intel’s new customers, including the U.S. Department of Defense and Qualcomm, want cutting-edge fabrication.

Persons: Pat Gelsinger, MaxLinear, China’s, Jeffrey Goldfarb, Sharon Lam Organizations: Dow Jones Industrial, Intel, Reuters, Tower Semiconductor, Administration, Market, NXP Semiconductors, U.S . Department of Defense, Qualcomm, Wall Street Journal, Motion Technology, Cisco Systems, Acacia Communications, Thomson Locations: San Diego , California, China, country’s, Washington, Beijing

☆ Beware these stocks lurking in your portfolio as China economy wobbles
▼ + stars: | 2023-08-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Turmoil in the Chinese economy can mean bad news for a range of popular stocks. And the global superpower has flashed warning signs in recent days, signaling stocks with exposure to the country could feel pressure. In May, Morgan Stanley screened for publicly traded companies in the U.S. with the highest share of revenue connected to China. Other stocks to watch To be sure, exposure to China extends beyond the semi landscape. Battery manufacturer Microvast was the most exposed with 80% of revenue coming from China, Morgan Stanley's analysis found.

Persons: Morgan Stanley, Baird, Microvast, Morgan, Wynn, — CNBC's Michael Bloom Organizations: Reuters, Nvidia, UBS, Marvell Technology, Silicon Laboratories, Devices, Qualcomm, Wynn Resorts, Vegas, Street, Las Vegas Sands, Western Locations: China, Beijing, U.S, Refinitiv, Wells Fargo, Vegas, Las Vegas, Corning

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ David Tepper’s Appaloosa hedge fund piles into host of A.I.-related stocks
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Appaloosa Management's David Tepper doubled down on several stocks tied to the artificial intelligence boom in the last quarter, a new regulatory filing revealed. The hedge fund manager hiked his stake in Nvidia drastically, making it his biggest holding at the end of June, worth $432 million. Appaloosa's top holdings also included big-tech names Meta , Microsoft , Amazon and Alphabet , which have all recently highlighted their AI capabilities. Meta recently unveiled its own AI computer chips . Tepper remains one of the most successful and richest hedge fund managers in the world, known for his skillful maneuvers through market crises.

Persons: David Tepper, Meta, Tepper Organizations: Nvidia, Microsoft, Google, OpenAI, AMD, Intel, Qualcomm, Marvell, Broadcom, Taiwan Semiconductor

Following Monday's trade, Dupont will have a 1% weighting in Jim Cramer's Charitable Trust, the porfoltio we use for the Club. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. Traders work on the floor of the New York Stock Exchange (NYSE) on August 02, 2023 in New York City.

Persons: Dupont, Jim Cramer's, DuPont, it's, repurchased, There's, Ed Breen, Jim Cramer, Jim, Spencer Platt Organizations: DuPont, Jim Cramer's Charitable Trust, Club, DuPont Electronics &, Devices, Rogers Corporation, Rogers, JPMorgan, CNBC, Traders, New York Stock Exchange, Getty Locations: China, Celanese, New York City

“It’s really relative to just pricing against bond yields”, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis. Eight of the eleven main S&P 500 sectors declined, with more interest rates sensitive Utilities(.SPLRCU) and Real Estate (.SPLRCR) leading losses, dropping 2.3% and 1.4% respectively. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Second-quarter earnings for companies in the S&P 500 are now expected to fall 5% from a year earlier, according to Refinitiv data. The S&P 500 posted 14 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 58 new highs and 88 new lows.

Persons: “ It’s, Tom Hainlin, …, Thomas Barkin, Brendan McDermid, Echo Wang, Shubham Batra, Bansari, Anil D'Silva, David Gregorio Our Organizations: PayPal, Qualcomm, Dow, Nasdaq, Treasury, U.S, Bank Wealth Management, Labor Department, Investors, Richmond Federal, Dow Jones, Traders, New York Stock Exchange, REUTERS, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: Minneapolis, U.S, New York City, New York, Bengaluru

☆ Qualcomm, Stung by Sluggish Smartphone Market, Plans Layoffs
▼ + stars: | 2023-08-03 | by ( Asa Fitch | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/qualcomm-qcom-q3-earnings-report-2023-2e422521

Persons: Dow Jones Organizations: qualcomm

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Earnings are also in focus, with Apple (AAPL.O) and Amazon.com (AMZN.O) due to report quarterly results after market close. Declining issues outnumbered advancers for a 2.08-to-1 ratio on the NYSE and a 1.28-to-1 ratio on the Nasdaq. The S&P index recorded nine new 52-week highs and four new lows, while the Nasdaq recorded 37 new highs and 63 new lows. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Quincy Krosby, Thomas Barkin, advancers, Shubham Batra, Bansari, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Moderna, PayPal, Qualcomm, Dow, Nasdaq, LPL, Richmond Federal, Dow Jones, Apple, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: New York City, U.S, Richmond, Bengaluru

☆ Qualcomm tumbles after signalling more pain from smartphone slump
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Qualcomm (QCOM.O) tumbled nearly 9% on Thursday after a gloomy forecast signalled more pain for the largest maker of smartphone chips from the ongoing slump in the consumer electronics market. The stock has risen 19% this year, but has underperformed the broader chip industry (.SOX) on worries about smartphone demand. The company disappointed investors on Wednesday with a current-quarter revenue forecast that was below market estimates, as well as adjusted sales that missed expectations. "Huawei headwinds are new (and larger than we would have thought), and (Qualcomm) stock is admittedly un-sexy," Bernstein analyst Stacy Rasgon said. Qualcomm has a 12-month forward price-to-earnings ratio of 14.05, much lower than Nvidia's (NVDA.O) 43.94 and the industry median of 20.51.

Persons: Dado Ruvic, Piper Sandler, Piper, Bernstein, Stacy Rasgon, Aditya Soni, Anil D'Silva Organizations: Qualcomm, REUTERS, Huawei, Thomson

☆ Qualcomm freefalls as phone chip sales falter. Here's what the pros are saying
▼ + stars: | 2023-08-03 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualcomm freefalls as phone chip sales falter. Here's what the pros are sayingJim Cramer, Jim Lebenthal of Cerity Partners and Bill Baruch of Blue Line Futures discussed Qualcomm after the company reported weaker-than-anticipated revenue and guidance in their third-quarter financial results.

Persons: Jim Cramer, Jim Lebenthal, Bill Baruch Organizations: Qualcomm, Cerity Partners, Blue

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