Qualcomm Inc., the largest maker of chips that run smartphones, gave a tepid income prediction for the present quarter, underscoring issues that tariffs will harm demand for its merchandise.
Income within the interval ending in June might be $9.9 billion to $10.7 billion, the corporate mentioned Wednesday in a press release. The midpoint of that vary was barely beneath the common analyst estimate of $10.33 billion.
The outlook renews concern that the marketplace for smartphones is affected by a looming commerce struggle. Qualcomm is extremely weak to the fallout from tariffs threatened by the US and China. The latter nation is the largest marketplace for Qualcommโs chips, and native cellphone makers account for a lot of of its prime prospects.
Intel Corp. and others have given cautious outlooks โ with some even warning that the economic system could also be headed for a recession.
โAs we navigate the present macroeconomic and commerce surroundings, we stay centered on the crucial components we are able to management โ our main know-how highway map, best-in-class product portfolio, robust buyer relationships and operational efficiencies,โ Chief Govt Officer Cristiano Amon mentioned in a press release.
Qualcomm has projected that the smartphone market will develop by a proportion within the low single digits this yr.
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