:Qualcomm forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth.Demand for consumer electronics has also been hampered by China's slower-than-expected
:Qualcomm forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth.
Qualcomm said its forecast also takes into account the impact of the macroeconomic headwinds, weaker global handset units and channel inventory drawdown. Qualcomm rival MediaTek last week warned that phone manufacturers are"cautious" about buying chips due to tepid end-user demand.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PM Lee to deliver ministerial statement on CPIB’s Iswaran probe, MP resignations on WednesdayPrime Minister Lee Hsien Loong will be delivering a ministerial statement in Parliament on Wednesday, on the Corrupt Practices Investigation Bureau’s (CPIB)
Read more »
China releases package of tax relief measures to support small firmsBEIJING : China's finance ministry on Wednesday unveiled a package of tax relief measures to support small businesses and rural households, as the world's second-largest economy struggles with a post-COVID recovery. Amid weak demand both at home and abroad, China's economic recovery has lost steam since A
Read more »
Western Digital's first-quarter forecast disappoints as weak cloud demand weighsMemory chipmaker Western Digital Corp forecast first-quarter revenue below Wall Street targets and a bigger-than-expected loss on Monday as weak demand, particularly for its cloud business, forces it to cut production.The company said it expects its current-quarter loss to include a charge of about $200 m
Read more »
Arista Networks forecasts upbeat revenue as AI hype boosts cloud gear demandArista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artificial intelligence (AI) applications.Shares of the Santa Clara, California-based company surged 11.7 per cen
Read more »
Uber forecasts quarterly operating profit above estimates on ride-hailing demandUber Technologies on Tuesday forecast third-quarter operating profit above Wall Street expectations as it sees growing demand for ride hailing due to strong leisure travel trends and gradual return to in-office work.The ride-sharing platform's cost controls ranging from layoffs to lower transaction costs
Read more »
SiriusXM tops quarterly revenue estimates on strong radio demand from auto tie-upsSiriusXM topped market estimates for quarterly revenue on Tuesday as the radio company's tie-ups with automakers helped draw users to its audio product services while on the road. Shares of the company rose more than 3 per cent in premarket trading, having surged to their highest level in more than 18 yea
Read more »