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Qualcomm falls as phone chips falter. Here’s what the pros are saying
Market Movers rounded up the best reactions from investors and analysts on Qualcomm . The experts, including Jim Cramer , talked about the semiconductor company a day after it had reported fiscal third-quarter adjusted revenue and guidance that missed estimates. Qualcomm cited slowing smartphone chip sales as a source for its financial woes, which declined 25% on a year-over-year basis. Net income also fell 52% from a year ago. Deutsche Bank noted the slumping handset chip sales as it downgraded Qualcomm’s stock to hold from buy. Shares finished Thursday down 8.2%.
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