Qualcomm stock is down 4.29% in after-hours trading after the company told Bloomberg News that there is a shift in orders: customers are ordering more parts for cheaper handsets.
The company reported sharply improved earnings today (Nov. 6) but it said sales in fiscal 2014 will be $26 billion to $27.5 billion and analysts had expected $27.5 billion. Fourth-quarter net earnings rose 18% to 86 cents a share, but analysts had expected 94 cents, according to Bloomberg. Revenue topped analysts' expectations.
Qualcomm stock is down 4.29% in after-hours trading after the company told Bloomberg News that there is a shift in orders: customers are ordering more parts for cheaper handsets.
The company reported sharply improved earnings today (Nov. 6) but it said sales in fiscal 2014 will be $26 billion to $27.5 billion and analysts had expected $27.5 billion. Fourth-quarter net earnings rose 18% to 86 cents a share, but analysts had expected 94 cents, according to Bloomberg. Revenue topped analysts' expectations.
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