Qualcomm Slides After Posting Lackluster Phone Chip Sales
(Bloomberg) — Qualcomm Inc., the biggest maker of chips that run smartphones, fell in late trading after reporting lackluster growth in that market, fueling concerns that tariffs will take a toll on the industry.
Phone-related sales rose 7% to $6.33 billion in the fiscal third quarter, which ended June 29, Qualcomm said in a statement Wednesday. The average analyst estimate was $6.48 billion, according to data compiled by Bloomberg.
