Latest news with #AkashPalkhiwala
Yahoo
31-07-2025
- Business
- Yahoo
QCOM: Qualcomm Stock Tumbles After Warning Apple Loss Could Trim Revenue
July 31 Qualcomm (NASDAQ:QCOM) shares slipped nearly 6% on Thursday after investors weighed the potential loss of Apple (NASDAQ:AAPL) modem revenue and rising U.S. tariff risks for semiconductors. Warning! GuruFocus has detected 6 Warning Sign with META. The chipmaker said Apple's move to start using its own in?house modems for the iPhone 16e next February could reduce future sales, even as current?quarter forecasts remained supported by Android demand. Concerns deepened after former President Donald Trump repeated threats to impose tariffs on semiconductors, raising the risk of supply chain disruption. While chips have not yet been targeted, analysts said new levies could trim mid?single?digit percentages from Qualcomm's handset revenue. CFO Akash Palkhiwala said customers are not accelerating orders to avoid potential tariffs. Analysts at TD Cowen noted that sales to Samsung and Xiaomi have grown over 15% this fiscal year, helping offset the expected Apple decline. Qualcomm, the world's largest modem supplier, is also expanding into augmented reality. CEO Cristiano Amon said the company now supports 19 AR products, including Meta's (NASDAQ:META) Ray?Ban smart glasses, and expects more launches in coming quarters. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31-07-2025
- Business
- Yahoo
Qualcomm shares slide as Apple modem shift, tariffs raise growth concerns
(Reuters) -Qualcomm shares fell nearly 5% before the bell on Thursday as the looming loss of Apple as its biggest modem customer outweighed its upbeat quarterly forecast. The San Diego-based chip supplier warned investors that Apple's move to depend on in-house modems, starting with the February launch of the iPhone 16e, would hit future chip revenue. Qualcomm has intensified its focus on sectors such as data centers and personal computers. Adding to the pressure, U.S. President Donald Trump's renewed tariff threats on semiconductors have emerged as a risk, potentially disrupting supply chains and hurting Qualcomm's handset revenue, analysts said. While smartphones and semiconductor chips have so far been exempt from these levies, Trump recently warned he would "soon announce tariffs on semiconductors," raising concerns of sector-specific duties. CFO Akash Palkhiwala told Reuters that the company hasn't seen early chip orders yet, suggesting customers aren't rushing to beat possible tariffs. "Tariffs could trim mid-single digits off handset revenue, but Chinese OEMs (original equipment manufacturers) still view (Qualcomm's mobile phone chip) Snapdragon as essential for global 5G and AI-on-device marketing," said Michael Ashley Schulman, CIO at Running Point Capital. Qualcomm, the world's largest supplier of modem chips and seen as a bellwether for smartphones, said chip sales to non-Apple customers have risen more than 15% this fiscal year, driven by premium Android launches. "We see durable share at Samsung and an extended collaboration with Xiaomi as key support in the handset segment as Apple chipset revenue comes out of the model," TD Cowen analysts said. Qualcomm is also expanding in augmented reality. CEO Cristiano Amon said the company now supports 19 augmented reality designs including META's Ray-Ban smart glasses and expects that number to grow. The company's 12-month forward price-to-earnings ratio is 13.36, trailing Nvidia's 34.91, Intel's 47.14 and Advanced Micro Devices 35.33, according to data compiled by LSEG. Sign in to access your portfolio
CNA
31-07-2025
- Business
- CNA
Qualcomm shares slide as Apple modem shift, tariffs raise growth concerns
Qualcomm shares fell nearly 5 per cent before the bell on Thursday as the looming loss of Apple as its biggest modem customer outweighed its upbeat quarterly forecast. The San Diego-based chip supplier warned investors that Apple's move to depend on in-house modems, starting with the February launch of the iPhone 16e, would hit future chip revenue. Qualcomm has intensified its focus on sectors such as data centers and personal computers. Adding to the pressure, U.S. President Donald Trump's renewed tariff threats on semiconductors have emerged as a risk, potentially disrupting supply chains and hurting Qualcomm's handset revenue, analysts said. While smartphones and semiconductor chips have so far been exempt from these levies, Trump recently warned he would "soon announce tariffs on semiconductors," raising concerns of sector-specific duties. CFO Akash Palkhiwala told Reuters that the company hasn't seen early chip orders yet, suggesting customers aren't rushing to beat possible tariffs. "Tariffs could trim mid-single digits off handset revenue, but Chinese OEMs (original equipment manufacturers) still view (Qualcomm's mobile phone chip) Snapdragon as essential for global 5G and AI-on-device marketing," said Michael Ashley Schulman, CIO at Running Point Capital. Qualcomm, the world's largest supplier of modem chips and seen as a bellwether for smartphones, said chip sales to non-Apple customers have risen more than 15 per cent this fiscal year, driven by premium Android launches. "We see durable share at Samsung and an extended collaboration with Xiaomi as key support in the handset segment as Apple chipset revenue comes out of the model," TD Cowen analysts said. Qualcomm is also expanding in augmented reality. CEO Cristiano Amon said the company now supports 19 augmented reality designs including META's Ray-Ban smart glasses and expects that number to grow.
Reuters
31-07-2025
- Business
- Reuters
Qualcomm shares slide as Apple modem shift, tariffs raise growth concerns
July 31 (Reuters) - Qualcomm (QCOM.O), opens new tab shares fell nearly 5% before the bell on Thursday as the looming loss of Apple (AAPL.O), opens new tab as its biggest modem customer outweighed its upbeat quarterly forecast. The San Diego-based chip supplier warned investors that Apple's move to depend on in-house modems, starting with the February launch of the iPhone 16e, would hit future chip revenue. Qualcomm has intensified its focus on sectors such as data centers and personal computers. Adding to the pressure, U.S. President Donald Trump's renewed tariff threats on semiconductors have emerged as a risk, potentially disrupting supply chains and hurting Qualcomm's handset revenue, analysts said. While smartphones and semiconductor chips have so far been exempt from these levies, Trump recently warned he would "soon announce tariffs on semiconductors," raising concerns of sector-specific duties. CFO Akash Palkhiwala told Reuters that the company hasn't seen early chip orders yet, suggesting customers aren't rushing to beat possible tariffs. "Tariffs could trim mid-single digits off handset revenue, but Chinese OEMs (original equipment manufacturers) still view (Qualcomm's mobile phone chip) Snapdragon as essential for global 5G and AI-on-device marketing," said Michael Ashley Schulman, CIO at Running Point Capital. Qualcomm, the world's largest supplier of modem chips and seen as a bellwether for smartphones, said chip sales to non-Apple customers have risen more than 15% this fiscal year, driven by premium Android launches. "We see durable share at Samsung and an extended collaboration with Xiaomi as key support in the handset segment as Apple chipset revenue comes out of the model," TD Cowen analysts said. Qualcomm is also expanding in augmented reality. CEO Cristiano Amon said the company now supports 19 augmented reality designs including META's (META.O), opens new tab Ray-Ban smart glasses and expects that number to grow. The company's 12-month forward price-to-earnings ratio is 13.36, trailing Nvidia's (NVDA.O), opens new tab 34.91, Intel's (INTC.O), opens new tab 47.14 and Advanced Micro Devices (AMD.O), opens new tab 35.33, according to data compiled by LSEG.
The Star
31-07-2025
- Business
- The Star
Qualcomm forecasts revenue above estimates, betting on AI use to drive chip demand
FILE PHOTO: A smartphone with a displayed Qualcomm logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Qualcomm projected current-quarter sales above Wall Street expectations on Wednesday, wagering that growing AI capabilities in consumer devices will boost demand for its semiconductors despite ongoing global trade uncertainties. The San Diego-based company is the world's largest supplier of modem chips that enable smartphones to connect to wireless data networks. A major strategic concern for Qualcomm is its relationship with Apple, its top customer. Qualcomm's shares were down about 4% in extended trading after it reiterated its warning that Apple's shift to its own modem chips in its future devices will hit its chip segment revenue. The iPhone 16e, launched earlier this year, was the first Apple smartphone to house a modem developed in-house. Qualcomm forecast revenue between $10.3 billion and $11.1 billion for the September quarter, compared with estimates of $10.64 billion, according to data compiled by LSEG. The company has not seen signs of customers ordering chips ahead of normal seasonal schedules to try to get ahead of possible tariffs, Chief Financial Officer Akash Palkhiwala told Reuters in an interview. U.S. President Donald Trump's tariff policies have so far provided exemptions for smartphones and semiconductor chips from these Trump has issued warnings about potential sector-specific tariffs targeting the industry, stating as recently as this month that he would "soon announce tariffs on semiconductors." The tariff situation remains highly fluid and complex, with existing Chinese electronics tariffs still in effect despite the exemptions granted for certain categories. Global smartphone shipments climbed 1% in the second quarter, according to research firm IDC, as Apple, a key Qualcomm customer, accelerated shipments to avoid potential tariff impacts. Still, the company said its chip segment revenue from customers excluding Apple was up more than 15% so far this fiscal year. Qualcomm CEO Cristiano Amon said he expects the company's business to supply chips to augmented-reality glasses such as Meta Ray-Bans to expand. "We have all the designs that matter right now - the number of designs like the Meta glasses is now up to 19, and that continues to accelerate," Amon told Reuters in an interview. Qualcomm forecast fiscal fourth-quarter chip segment sales at a midpoint of $9.3 billion, compared with analyst estimates of $9.19 billion, according to Visible Alpha data. The chipmaker reported sales of $10.37 billion for its third quarter ended June 29, beating estimates of $10.35 billion. The company's third-quarter adjusted profit of $2.77 per share compared with estimates of profit of $2.71 per share. It expects adjusted profits in the fiscal fourth quarter of about $2.85 per share, above estimates of $2.83 per share. (Reporting by Akash Sriram in Bengaluru and Stephen Nellis in San Francisco; Editing by Leroy Leo)
