Qualcomm forecasts Trump tariffs will dent revenue, shares fall 6 per cent

News Snapshot:

Mobile chip designer Qualcomm QCOM-Q on Wednesday forecast third-quarter revenue that would not meet estimates, joining other tech companies such as Snap and Samsung that voiced concerns about the effects of U.S. President Donald Trump’s trade war. Qualcomm third-quarter estimates reflected the impact of the tariffs “as they stand today,” Chief Financial Officer Akash Palkhiwala said in a conference call with analysts following the results. But he said the situation could change due to rapid developments in U.S.-China trade tensions. “We do not see any material, direct impact – there is smaller direct impact and some minor changes in demand,”...