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Apple effect: Qualcomm sees profits fall 90% in fiscal fourth quarter, but can still fight

This is good news to prove that, for better or for worse, it is generally not a good idea to pick a fight with one of the largest tech companies in the world even though you be either It is one of the largest technology companies in the world, only smaller.

THE Qualcomm Yesterday it published its financial results for the fourth quarter of fiscal 2017 and the numbers don't lie: the fight with Apple was an unprecedented thud in the microchip giant.

Just look, for example, at the company's profit in the period, from $ 168 million: value represents a drop in brutal 89.5% compared to that obtained in the third fiscal quarter of last year. Meanwhile, revenue also fell, but at a much slower pace: it was $ 5.96 billion, or about 4.5% less than in the previous period.

Despite the disappointing numbers, Qualcomm's shares rose at the moment, around 3% after the release of the results. The reason? Financial market analysts believed the company would have even worse numbers, so investors received the news as a relief and a kind of assurance that the microchip giant is still able to fight and maintain its leading position in the segment.

Still, the company's stock was down 18% in value if we compare it to the same period last year. Therefore, it is good that Qualcomm takes care of it and may even hurry to settle the matter with Ma before it is too late to return.

via AppleInsider