Qualcomm’s (QCOM) Hurt By Memory, Says Jim Cramer

QUALCOMM Incorporated (NASDAQ:QCOM) is 1 of the largest semiconductor designers successful the world. Its products are utilized successful smartphones, cars, and different products. QUALCOMM Incorporated (NASDAQ:QCOM)’s shares are down by 18% implicit the past twelvemonth and by 20% year-to-date. Cantor Fitzgerald discussed the steadfast up of its second-quarter earnings. It outlined that QUALCOMM Incorporated (NASDAQ:QCOM) could contented weaker-than-expected guidance owed to concerns astir Apple’s products and problems successful the Chinese smartphone market. To wit, the steadfast guided $2.45 and $2.65 successful adjusted net per stock and gross of $10.2 cardinal to $11 billion. Both of these sat beneath expert estimates of $11.11 cardinal successful gross and net of $2.89 per share. Cramer besides mentioned Apple arsenic helium commented connected QUALCOMM Incorporated (NASDAQ:QCOM) pursuing the net report:

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“They’re truly wounded by memory, they’re similar Sony. They don’t person a batch of representation and whoever has representation wins. Apple’s got memory, adjacent though they don’t person arsenic much, they complained connected the telephone but they’re doing well.”

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.