Qualcomm Earnings Falter with Slowdown in Demand for Smartphones and IoT Devices

Qualcomm earnings suffered from a rapid slowdown in demand for smartphones and IoT devices which continued to weigh on QCOM in fiscal 1Q23 (December quarter). We saw this reflected in their revenue miss, but they gave an optimistic outlook for 2H23. The company, like many chip makers has an elevated inventory of OEMs due to sluggish consumer demand and the easing of supply chain disruptions. Apple, which uses QCOM’s modem chips reported a disappointing 1Q23 earnings report that was driven … Continue reading “Qualcomm Earnings Falter with Slowdown in Demand for Smartphones and IoT Devices”