Qualcomm's revenue outlook is weak, with trade turbulence challenging demand prospects.

Qualcomm's outlook for the current quarter's revenue is weak, highlighting concerns that tariffs will hurt its product demand. The company said on Wednesday that revenue for the quarter ending in June will be between $9.9 billion and $10.7 billion. The midpoint of that range is slightly below analysts' average estimate of $10.33 billion, leading to a drop in its stock price after hours. Qualcomm CEO Cristiano Amon said the company is dealing with "current macroeconomic and trade environment." This outlook once again raised concerns about the impending impact of the trade war on the smartphone market. Qualcomm is seen as highly vulnerable to the threat of U.S. tariffs. Intel and other companies have already given cautious outlooks, with some even warning that the economy may be heading towards a recession. Qualcomm's stock price fell over 6% after hours.