Core Viewpoint - Qualcomm's latest earnings report indicates weak growth in its smartphone-related business, raising market concerns about potential impacts from tariffs on the industry [1][4]. Financial Performance - For the third fiscal quarter ending June 29, Qualcomm reported revenue of $10.37 billion, a year-over-year increase of 10%, but below analysts' expectations of $10.62 billion [1]. - Adjusted net income was $2.67 billion, up 25% year-over-year, with adjusted earnings per share at $2.77, exceeding the average analyst estimate of $2.72 [1]. - The CDMA Technology Group's revenue for the third fiscal quarter was $8.993 billion, a year-over-year increase of 11% [2]. Business Segment Breakdown - Revenue from mobile chip business was $6.328 billion, a year-over-year increase of 7%, falling short of the expected $6.48 billion [1]. - Automotive chip revenue reached $984 million, up 21% year-over-year [1]. - Internet of Things (IoT) business revenue was $1.681 billion, reflecting a 24% year-over-year growth [1]. - The Technology Licensing Group reported revenue of $1.318 billion, a 4% year-over-year increase [1]. Future Outlook - Qualcomm anticipates fourth fiscal quarter revenue to be between $10.3 billion and $11.1 billion, with analyst expectations averaging $10.6 billion [4]. - The CDMA Technology Group's revenue is expected to be between $9 billion and $9.6 billion, while the Technology Licensing Group's revenue is projected to be between $1.25 billion and $1.45 billion [4]. Industry Challenges - The report heightened concerns about the chip industry's recovery prospects, with other manufacturers like Texas Instruments and Intel also providing cautious outlooks [4]. - A significant challenge for Qualcomm is Apple's plan to develop its own modem chips for iPhones, which could eventually replace Qualcomm's chips, although this transition has been delayed due to slow progress in Apple's component development [4].

Core Insights - The 22nd ChinaJoy will take place from August 1 to 4 in Shanghai, highlighting the growth of the global digital entertainment ecosystem [1] - Qualcomm's global vice president, Hou Mingjuan, shared that the global gaming market is projected to reach $182.7 billion in 2024, with mobile gaming growing by 5.5% and PC gaming by 4.4% [1] - The active installed base of VR devices is expected to reach 28.6 million globally, with infotainment applications leading the development of in-car applications [1] Qualcomm's Role - Qualcomm is continuously launching Snapdragon platforms for various terminals, covering mobile phones, PCs, handheld devices, automobiles, and XR products, contributing to the prosperity of the digital entertainment ecosystem [1] - AI is seen as a transformative force for digital entertainment terminals, enhancing user interaction and productivity [1] Future Developments - Qualcomm plans to introduce the next-generation AI smart glasses solution, Snapdragon AR1+, which is expected to significantly impact users' lives [1] - Partners are anticipated to launch more AI smart glasses products based on this platform [1]

Group 1 - The article provides a summary of the market capitalization changes of major global technology and internet companies as of July 31, 2025, highlighting both increases and decreases in their valuations [1][3][4]. - Notable companies with significant market capitalization include Tesla at $1,029 billion, Apple at $1,259 billion, and Amazon at $1,200 billion, showcasing their dominance in the tech sector [3][4]. - Companies like Alibaba and Meituan experienced declines in their market values, with Alibaba down by 1.66% to $288.5 billion and Meituan down by 4% to $51.5 billion, indicating potential challenges in their business environments [3][4][5]. Group 2 - The report indicates that companies such as Spotify and Qualcomm saw increases in their market capitalizations, with Spotify up by 4.91% to $133.3 billion and Qualcomm up by 1.86% to $174.6 billion, reflecting positive market sentiment [4][5]. - The data also reveals fluctuations in the stock prices of various companies, with notable increases for firms like Marvell Technology, which rose by 7.07% to $704 million, suggesting strong performance in their respective sectors [6][7]. - The overall market trends indicate a mixed performance among technology companies, with some experiencing growth while others face declines, highlighting the volatility and competitive nature of the industry [1][2][3].

来源：股市直击 7月31日消息，三大指数涨跌不一，元件板块涨幅居前。截至今日开盘，沪指报3604.70点，跌0.30%； 深成指报11208.46点，涨0.05%；创指报2382.97点，涨0.65%。 消息面： 1、中共中央政治局7月30日召开会议，决定今年10月在北京召开中国共产党第二十届中央委员会第四次 全体会议。会议指出，宏观政策要持续发力、适时加力；深入实施提振消费专项行动，在扩大商品消费 的同时，培育服务消费新的增长点；增强国内资本市场的吸引力和包容性，巩固资本市场回稳向好势 头。 2、7月30日，商务部部长王文涛会见美中贸易全国委员会董事会主席芮思博率领的代表团一行。双方就 中美经贸关系、美资企业在华发展等议题交换意见。王文涛表示，中国欢迎包括美资企业在内的各国企 业投资中国，共享发展机遇。 3、中央财政今年初步安排预算900亿元育儿补贴，各地将在8月下旬陆续开放育儿补贴申领。 4、天津大学科研团队与西北农林科技大学合作，成功构建"可吞服光电子胶囊-工程菌双向交流系统"， 建立起人类与肠道工程菌之间的光学"语言"，为肠道健康监测与疾病治疗开辟了新路径。 5、全国基孔肯雅热疫情防治工作电视电话会议 ...

| QCT | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Revenue Streams (in | | QIQ | YIY | | QIO | YIY | | QIQ | YIY | | SM) | Handsets | change | change | Automotive | change | change | lo T | change | change | | FQ3 '25 | 6,328 | -8.7% | 7.3% | 984 | 2.6% | 21.3% | 1,681 | 6.3% | 23.7% | | FQ2 '25 | 6,929 | -8.5% | 12.1% | 059 | -0.2% | 59.0% | 1,581 | 2.1% | 27.2% | | FQ1 '25 | 7,574 | 24.2% | 13.3% | 961 | 6.9% | 60.7% | 1,549 | -8.0% | 36.1% | | FQ4 '24 | 6,096 | 3.3% ...

【智通财经7月31日早间新闻精选】 1、中共中央政治局7月30日召开会议，决定今年10月在北京召开中 国共产党第二十届中央委员会第四次全体会议。会议指出，宏观政策要持续发力、适时加力；深入实施 提振消费专项行动，在扩大商品消费的同时，培育服务消费新的增长点；增强国内资本市场的吸引力和 包容性，巩固资本市场回稳向好势头。 2、7月30日，商务部部长王文涛会见美中贸易全国委员会董事 会主席芮思博率领的代表团一行。双方就中美经贸关系、美资企业在华发展等议题交换意见。王文涛表 示，中国欢迎包括美资企业在内的各国企业投资中国，共享发展机遇。 3、中央财政今年初步安排预算 900亿元育儿补贴，各地将在8月下旬陆续开放育儿补贴申领。 4、天津大学科研团队与西北农林科技大 学合作，成功构建"可吞服光电子胶囊-工程菌双向交流系统"，建立起人类与肠道工程菌之间的光学"语 言"，为肠道健康监测与疾病治疗开辟了新路径。 5、全国基孔肯雅热疫情防治工作电视电话会议强 调，要加强医疗卫生机构检验检测质控和门急诊管理，提高"早发现"能力，规范开展病例救治，全力防 范重症和死亡。 6、百亿湖北人形机器人母基金启动，首期50亿落地，前瞻布局机 ...

Core Insights - Qualcomm reported a revenue of $10.365 billion for Q3 of fiscal year 2025, representing a 10% year-over-year increase [1] - The net profit for the same period was $2.666 billion, showing a 25% year-over-year growth [1] - Diluted earnings per share increased by 29% to $2.43 [1] Revenue Breakdown - Revenue from devices and services reached $8.893 billion, an 11% increase from $7.993 billion in the previous year [1] - Revenue from licensing was $1.472 billion, slightly up from $1.400 billion year-over-year [1] Business Segment Performance - The CDMA Technology Group's revenue was $8.993 billion, a growth of 11% year-over-year [4] - Mobile chip revenue was $6.328 billion, a 7% increase [4] - Automotive chip revenue reached $984 million, up 21% [4] - IoT revenue was $1.681 billion, reflecting a 24% increase [4] - The Technology Licensing Group generated $1.318 billion in revenue, a 4% increase year-over-year [4] Future Guidance - Qualcomm expects Q4 fiscal year 2025 revenue to be between $10.3 billion and $11.1 billion, with an average estimate of $10.7 billion [3] - The CDMA Technology Group's revenue is projected to be between $9 billion and $9.6 billion, while the Technology Licensing Group is expected to generate between $1.25 billion and $1.45 billion [3]

人民财讯7月31日电，高通第三财季调整后营收103.7亿美元，同比增长10%，调整后净利润26.7亿美 元，同比增长25%，第三财季调整后每股收益2.77美元。公司预计第四财季营收103亿美元至111亿美 元，预计第四财季调整后每股收益2.75美元至2.95美元。 ...

Market Overview - The Federal Open Market Committee (FOMC) decided to keep interest rates steady at +4.25-4.50% during its five meetings in 2025, acknowledging moderated growth but stable unemployment and labor market conditions [2][4] - Fed Chair Powell indicated that tariffs are beginning to impact inflation metrics, with the latest CPI Inflation Rate rising to +2.7% [5][4] - Market indexes experienced declines following Powell's statements, although the Nasdaq managed a slight gain of +0.15% by the close [1][6] Company Earnings Reports - Microsoft reported fiscal Q4 earnings of $3.65 per share, exceeding expectations by $0.30, with revenues of $76.4 billion, up +18% year over year, driven by a +39% increase in its Azure cloud business [6] - Meta Platforms significantly surpassed earnings projections with $7.14 per share against an anticipated $5.83, and revenues of $47.52 billion, up from $44.84 billion, with a +6% increase in Daily Active People to 3.48 billion [7] - Ford Motor Co. reported Q2 earnings per share of $0.37, exceeding estimates, with revenues over $50 billion, but shares fell due to $800 million in costs attributed to direct tariff exposure [9] - Qualcomm's fiscal Q3 earnings were $2.77 per share, beating expectations by $0.07, but revenues of $10.37 billion slightly missed the forecast, leading to a -4.6% drop in shares [10]

2025年7月 Z （）中国7月官方制造业、非制造业PMI数 2 商务部定于7月31日举行新闻发布会。 商务领域重点工作有关情况 (3)美国6月PCE物价指数将公布 4 苹果、亚马逊将于当地时间7月31日9 (北京时间次日凌晨) 发布财报 1 中共中央政治局召开会议决定召开二十届四中全会分析研究当前经济形势和经济工作中共中央总书记习近平主持会议 中共中央政治局7月30日召开会议，决定今年10月在北京召开中国共产党第二十届中央委员会第四次全体会议，主要议程是，中共中央政治局向中央委员会 报告工作，研究关于制定国民经济和社会发展第十五个五年规划的建议。会议分析研究当前经济形势，部署下半年经济工作。中共中央总书记习近平主持会 议。会议指出，要持续防范化解重点领域风险。落实好中央城市工作会议精神，高质量开展城市更新。积极稳妥化解地方政府债务风险，严禁新增隐性债 务，有力有序有效推进地方融资平台出清。增强国内资本市场的吸引力和包容性，巩固资本市场回稳向好势头。（新华社） 2 隔夜市场 当地时间7月30日，美国联邦储备委员会结束为期两天的货币政策会议，宣布将联邦基金利率目标区间维持在4.25%至4.50%之间不变。这一决 ...