Qualcomm Stock Tumbles on 26% Handset Revenue Drop, Lower QCT Pretax-Margin Forecast

Qualcomm Incorporated (NASDAQ: QCOM) shares fell more than 10% to $155. 22 in Thursday premarket trading after the chipmaker reported a 26% decline in fiscal fourth-quarter handset revenue and forecast a lower earnings-before-tax margin for its QCT semiconductor segment in the current quarter. Handset revenue totaled $5.

14 billion in the fiscal fourth quarter ended September 27, down from $6. 96 billion a year earlier and below the $5. 25 billion expected by analysts surveyed by Visible Alpha.

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