📊 $QCOM beats… then drops 7% after hours.
Qualcomm posted adj. EPS of $2.17 (vs $2.16 est.) on revenue of $10.44B (vs $10.11B), but handset chip sales fell 26% YoY as the memory shortage crushes smartphone demand. The Q1 EPS guide midpoint of $2.25 came in below the $2.27 consensus.
🟢 Bull case: Automotive +89%, the data center ramp (Amazon AWS custom chips, the Starlink deal), and a Q1 revenue guide above Street. CEO Amon: "We don't have a demand issue; it's a supply issue."
🔴 Bear case: The core handset business is shrinking, the 2027 phone market is seen flat, and memory costs keep squeezing the whole device chain.
Is QCOM a value buy near $160, or a falling knife? 👇
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