Qualcomm Drops About 9% as Smartphone Chip Sales Miss Estimates
Qualcomm shares fell about 9% in premarket trading after smartphone chip sales missed Wall Street estimates, raising concerns about weakness in its core handset business.
Qualcomm NASDAQ:QCOM shares dropped about 9% in premarket trading on Thursday after smartphone chip sales missed Wall Street estimates, raising concerns that weakness in its core handset business could offset gains from newer growth areas such as data-center chips.If premarket losses hold, Qualcomm…