Qualcomm stock slid 13% on Thursday, leading chip stocks lower after the company issued a light forecast. The chipmaker, which reported Q4 financial results after the bell Wednesday, slightly beat Q4 estimates for earnings, but its current-quarter guidance came in weak. Read more:

Qualcomm CEO Cristiano Amon on partnership with @SpaceX “It’s a great partnership with SpaceX for next-generation infrastructure. We’re very proud of this announcement. I think it’s also great from a United States technology leadership standpoint. It’s probably one of the largest network buildouts.”

Qualcomm $QCOM is down 12.3% premarket after its earnings print as a tepid forecast overshadowed the beat. Premarket net IV is up 264.86 vol pts (+3.9σ), second only to Snap $SNAP on the S&P 500 list.

𝗤𝘂𝗮𝗹𝗰𝗼𝗺𝗺 𝗤𝟯’𝟮𝟲: 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗮𝘁 𝗛𝗶𝗴𝗵 𝗘𝗻𝗱 𝗼𝗳 𝗚𝘂𝗶𝗱𝗮𝗻𝗰𝗲; 𝗔𝘂𝘁𝗼𝗺𝗼𝘁𝗶𝘃𝗲 𝗮𝗻𝗱 𝗜𝗼𝗧 𝗢𝗳𝗳𝘀𝗲𝘁 𝗛𝗮𝗻𝗱𝘀𝗲𝘁 𝗗𝗲𝗰𝗹𝗶𝗻𝗲 @Qualcomm reported Q3 revenue of $10.4 billion, at the high end of its guidance. Handset revenue declined 26% YoY, although this was partly offset by strong growth in the Automotive and continued expansion in the IoT segment. 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀: • Auto revenue grew by 89% YoY to reach $2 billion in Q3, marking a quarterly inflection point, whereas Qualcomm’s automotive annualized fiscal run rate reached $8 billion, $1 billion more than the guidance provided last quarter. • IoT segment revenue reached $1.9 billion, driven by growth in the industrial networking and robotics category, reflecting continued momentum in its industrial AI portfolio. • Qualcomm has partnered with @SpaceX to supply Dragonwing Cellular Infrastructure platforms for powering Starlink Mobile’s terrestrial base stations. • The handset business remained under pressure from industry-wide memory constraints impacting global smartphone demand. QCT handset revenue stood at $5.1 billion in Q3. • Data Center will be the next major growth driver for Qualcomm, with a revenue target of $5 billion for FY 2027. • Qualcomm expects Q1 FY2027 revenue of $10.4 billion–$11.2 billion (-9% to -15% YoY decline). Handset revenue is projected to decline by a mid-single-digit percentage sequentially, whereas the QCT non-handset segment will be the next growth driver for Qualcomm. 𝗥𝗲𝗮𝗱 𝗼𝘂𝗿 𝗶𝗻-𝗱𝗲𝗽𝘁𝗵 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗼𝗳 𝗤𝘂𝗮𝗹𝗰𝗼𝗺𝗺’𝘀 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆, 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝗶𝗻𝗴 𝗮𝗻𝗱 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗮𝘀 𝗶𝘁 𝗯𝘂𝗶𝗹𝗱𝘀 𝗮 𝗳𝘂𝗹𝗹-𝘀𝘁𝗮𝗰𝗸 𝗔𝗜 𝗲𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺 𝘀𝗽𝗮𝗻𝗻𝗶𝗻𝗴 𝗱𝗮𝘁𝗮 𝗰𝗲𝗻𝘁𝗲𝗿𝘀 𝘁𝗼 𝗱𝗲𝘃𝗶𝗰𝗲𝘀: 𝗔𝗹𝘀𝗼 𝗿𝗲𝗮𝗱 𝗼𝘂𝗿 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗼𝗻 𝗤𝘂𝗮𝗹𝗰𝗼𝗺𝗺’𝘀 𝗛𝗕𝗖 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗮𝗻𝗱 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗵𝗼𝘄 𝗵𝗶𝗴𝗵-𝗯𝗮𝗻𝗱𝘄𝗶𝗱𝘁𝗵 𝗺𝗲𝗺𝗼𝗿𝘆 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻𝘀 𝗰𝗼𝘂𝗹𝗱 𝗵𝗲𝗹𝗽 𝗮𝗱𝗱𝗿𝗲𝘀𝘀 𝘁𝗵𝗲 𝗴𝗿𝗼𝘄𝗶𝗻𝗴 𝗺𝗲𝗺𝗼𝗿𝘆 𝗯𝗼𝘁𝘁𝗹𝗲𝗻𝗲𝗰𝗸 𝗶𝗻 𝘁𝗵𝗲 𝗔𝗜 𝗲𝗿𝗮: #Qualcomm# #Earnings# #Semiconductors# #AutomotiveTechnology# #IoT# #IndustrialAI# #AIInfrastructure# #DataCenter# $QCOM