Qualcomm Slides 9% Premarket as Handset Miss Overshadows Data-Center Push
QCOM sits 28% above its 52-week low of $121.99 on elevated volume (1.9× avg).
Summary
Qualcomm is down about 9% premarket after fiscal Q4 handset revenue fell 26% to $5.14 billion, missing the $5.25 billion analysts expected, and chip segment sales dropped 8% to $9.02 billion. If the losses hold, roughly $17.5 billion of market value goes with them. The core problem is timing: data-center and automotive wins are real but not yet big enough to offset the Apple revenue roll-off and rising memory costs, and at least eight brokerages cut price targets after the print. Morgan Stanley said it lacks conviction in a three-year ramp for custom AI silicon. CEO Cristiano Amon told Reuters the company saw the memory shortage coming and prepared early, and pointed to sequential Android improvement. The stock trades at 16.78 times forward earnings versus 25.41 for MediaTek and 33.28 for Intel, so the market is already pricing in skepticism about the growth story. Intel is the peer reference here, not a party to the news.
At the time of this announcement, QCOM was trading at $156.01 on NASDAQ in the Technology sector, with a market capitalization of approximately $184.9B. The 52-week trading range was $121.99 to $259.92. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.