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Qualcomm late Wednesday cut its outlook for the year, citing the loss of sales to a major customer, likely No. 1 smartphone maker Samsung. The news sent Qualcomm stock falling nearly 8% in after-hours trading, after the firm lowered its outlook when releasing earnings for its fiscal Q1 ended Dec. 28. The wireless chip leader also cited competition in China as a factor in its new guidance. Qualcomm (QCOM) reported sales of $7.1 billion, up 7% from Scalper1 News
Scalper1 News