NEW YORK (TheStreet) -- Shares of Qualcomm are down 1.65% to $70.82 after the mobile chipmaker gave a more conservative five-year outlook than in the past as it faces an antitrust probe in China and more consumers there and in other developing countries buy lower-priced smartphones, Reuters reports. China's expanding high-speed 4G network is driving demand for smartphones with leading-edge technology, but Qualcomm's opportunities have been clouded by a year-old antitrust investigation there and troubles collecting royalty payments from device makers, Reuters noted. The company expects to grow its revenue between 8% and 10% annually over the next five years and its earning per share even more.
Comment on Qualcomm (QCOM) Stock Lower Today on Cautious Revenue Growth Outlook
twocents@thestreet.com (Tedd Cohen), The Street
Wed, 11/19/2014 - 11:36am
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