Qualcomm Predicts Q4 Sales Below Market Estimates Due to Macroeconomic Headwinds, Weaker Global Handset Units

Qualcomm has predicted that its fourth-quarter sales would fall below market estimates, as the California-based chipmaker deals with slowing global economic growth and consumer spending on smartphones remained weak. The firm also said that its forecast for the remainder of 2023 assumes no "material revenue" from Chinese smartphone maker Huawei.