Qualcomm's Latest Results Show Why It Is a Risky Bet
Qualcomm (NASDAQ: QCOM) stock has fallen roughly 8% since it reported third-quarter fiscal 2017 results in mid-July showing how Apple (NASDAQ: AAPL) is hurting the company's business. Shares of the chip specialist are down roughly 20% this year, but investors should brace for more downside as its core licensing business is stumbling.
Qualcomm's third-quarter revenue was down 11% year over year to $5.4 billion thanks to a 42% drop in sales from the Qualcomm Technology Licensing (QTL) business. This segment supplied almost a third of the chipmaker's business last year, but its contribution has now dropped to just 22%.
Image Source: Qualcomm
Source: Fool.com
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