Qualcomm(US:QCOM) 智通财经网·2026-02-05 14:15Core Viewpoint - Qualcomm's stock dropped over 10% in pre-market trading, reflecting concerns over weak earnings forecasts and the impact of storage chip shortages on mobile phone demand [1][2] Financial Performance - For the first fiscal quarter ending December 28, 2025, Qualcomm reported a revenue increase of 5% year-over-year to $12.25 billion, exceeding analyst expectations of $12.18 billion [1] - Adjusted net profit was $3.78 billion, a 1% decline year-over-year, with adjusted earnings per share at $3.50, surpassing the average analyst estimate of $3.40 [1] Future Outlook - Qualcomm forecasts revenue for the second fiscal quarter ending in March to be between $10.2 billion and $11 billion, below the analyst average expectation of $11.2 billion [1] - The company anticipates adjusted earnings per share to range from $2.45 to $2.65, also falling short of the average analyst forecast of $2.89 [1] Market Dynamics - Despite ongoing demand for high-end smartphones, Qualcomm noted that supply constraints and rising prices of storage chips are causing some customers to lower their production expectations [2] - The CEO, Cristiano Amon, is pushing for diversification into automotive, personal computer, and data center chip sales, but these new business segments are not yet large enough to offset the slowdown in the mobile chip market [2] - Amon expressed optimism about the demand for high-end smartphones despite the short-term challenges faced by the mobile chip business due to industry-wide supply limitations [2]