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BUZZ-Qualcomm falls despite upbeat revenue forecast as Apple exit looms

Reuters
Jul 31, 2025
BUZZ-Qualcomm falls despite upbeat revenue forecast as Apple exit looms

** Shares of Qualcomm QCOM.O drop nearly 6% to $149.38 after the bell

** San Diego-based firm reiterates its warning that Apple's AAPL.O 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

** QCOM Projects revenue between $10.3 billion and $11.1 billion for September quarter, compared with estimates of $10.64 billion, according to data compiled by LSEG

** Reports sales of $10.37 billion for third quarter ended June 29, beating estimates of $10.35 billion

** So far this year, stock up 3.5% as of last close

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))

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