Cloud & Infrastructure
Qualcomm Q1 revenue hits record $12.3B, then warns memory shortage will slam smartphone sales
Qualcomm posted record Q1 revenue of $12.3 billion, up 5% year-over-year. Then came the catch: Q2 guidance disappointed at $10.2-11 billion (versus $11.02 billion expected) as AI datacenter demand for high-bandwidth memory squeezes smartphone DRAM supply. Shares dropped 10% after hours.