Microsoft reported strong earnings driven by growth in its cloud services and traction in AI technology. In contrast, Meta's performance declined as CEO Mark Zuckerberg's AI strategy raised concerns over high spending.
Qualcomm CEO Cristiano Amon joined Bloomberg to discuss the challenges facing the smartphone market, citing soaring memory prices and supply shortages. He expressed optimism that these pressures would ease over time as Qualcomm shifts its focus toward automotive, data centers, and industrial applications.
Qualcomm Inc. Chief Executive Officer Cristiano Amon said demand for smartphones remains strong, but the growing costs of making the devices are keeping the market down.
Qualcomm Inc. reported a 4% year-over-year decline in revenue to $9.95 billion for the third quarter, with net income falling 25% due to higher memory chip prices impacting its device business. The company also issued a weak profit forecast for the current quarter, indicating that component shortages and rising costs are affecting its main market.
Qualcomm's net income fell 25% as higher memory chip prices impacted its device business. The company also indicated that it plans to raise prices in response to the ongoing memory crunch, as CEO Cristiano Amon stated, "Cost went up, prices are going to go up."
Qualcomm's weak profit forecast for the current quarter has raised concerns among investors, while Arm Holdings Plc's sales outlook also failed to impress. Jay Goldberg, a senior analyst at Seaport Research Partners, discussed these developments on 'Bloomberg The Close.'
Qualcomm CEO Cristiano Amon announced that the company will increase prices due to rising costs. This decision comes as Qualcomm issued a light earnings guidance for the third quarter of 2026.
US equity futures waver ahead of more tech earnings and a rate decision from the Federal Reserve. Microsoft, Meta and Qualcomm are set to report after SK Hynix signaled a sharp increase in capital spending.
Qualcomm Inc., the biggest maker of smartphone processors, plans to increase prices by a percentage in the double digits, a move that’s likely to ripple through much of the tech industry.
Semiconductor Flows Stay ‘Sticky' in Leveraged Chip ETFs Like SOXL Despite Fidelity's Cycle-Peak Warning
Semiconductor Outlook Bodes Well for This ETF
Semiconductor ETFs Draw Cash This Week as Chip Stocks Rally
Qualcomm shares slide as higher costs, Apple-related weakness cloud profit forecast