Qualcomm earnings beat but forecast comes up short because of memory shortage

Qualcomm did beat on the top and bottom line posting adjusted EPS of $3.50% on revenues of 12.12% sorry 12.25% billion. The QCT division which encompasses hardware chips and software beat expectations as did their IP business. But you're seeing shares down 6%.That's because the Q2 guide fell short and memory is to blame. Q2 revenue and EPS uh had the guidance ranges that fell entirely below consensus. I was able to catch up with Qualcomm CEO who said, quote, "Memory is going to define the size of the mobile ...