Qualcomm's Fiscal Forecast Falls Short

Qualcomm Inc. experienced a significant drop in its share price, plunging more than 8% on Thursday. This downturn followed the company's announcement of a softer-than-expected revenue forecast for the third quarter of fiscal 2025. Despite showcasing a robust 17% year-over-year revenue increase to $11 billion and a 21% rise in net income for the latest quarter, the chipmaker's projected sales range of $9.9 billion to $10.7 billion did not meet investor expectations.

Market Reaction and CEO's Statement

The disappointing guidance led to a 4.43% slide in after-hours trading on Wednesday. Qualcomm's CEO, Cristiano Amon, highlighted the company's commitment to diversification. However, this strategic focus was overshadowed by the underwhelming sales projection, which dampened the otherwise strong quarterly performance.

By 11:58 am ET, Qualcomm's shares had fallen 8.79%, trading at $135.41 each.