Qualcomm Falls Over 9% Premarket on Weak Profit Guidance Despite Q4 Beat

Cointime reports: Qualcomm shares dropped more than 9% in premarket trading after the chipmaker’s Q4 results beat expectations but its profit guidance disappointed, with pressure in its handset business. Arm fell nearly 4% despite beating Q2 estimates, as its outlook failed to surprise. Memory chip stocks also declined, with SK Hynix down over 3% and Micron down over 2%, while optical communications names extended losses.