Lates News

Qualcomm's outlook for current quarter revenue weakness highlights concerns that tariffs will harm demand for their products. 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, causing its stock price to fall after hours. Qualcomm CEO Cristiano Amon said the company is facing challenges in response to the "current macroeconomic and trade environment." This outlook once again raises concerns about the impending impact of the trade war on the smartphone market. Qualcomm is seen as particularly 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 toward a recession. Qualcomm's stock price fell more than 6% after hours.