Qualcomm stock drops 5% on weak earnings forecast as memory shortage weighs on smartphone sales

Qualcomm issued a fourth-quarter revenue forecast below analyst expectations following earnings that exceeded prior guidance. The company attributed the downward outlook to reduced smartphone sales caused by a memory chip shortage. Qualcomm's stock price fell 5 percent following the announcement.

• CNBC Tech — Qualcomm stock drops 5% on weak earnings forecast as memory shortage weighs on smartphone sales

Next story