Qualcomm’s share loss at Samsung is putting a damper on Q1 results

Source: seekingalpha.com seekingalpha.com

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Qualcomm's (NASDAQ:QCOM) better-than-expected first-quarter results are being overshadowed as guidance for the coming quarters is being impacted by a loss of share at handset giant Samsung (OTCPK:SSNLF). San Diego-based Qualcomm was expected to gain share at Samsung and the stock would trade higher, Citi analyst Christopher Danely said, citing his recent upgrade. That hasn't happened. Qualcomm shares fell 2% in premarket trading on Thursday. Concerns over the handset business were echoed elsewhere on Wall Street, with the guidance seen as "lackluster" due to the Samsung issues and problems elsewhere, Bank of America anlyst Tal Liani said. "We also flag Huawei...