cnbc_topnews

Qualcomm to raise prices during memory crunch as chipmaker issues light earnings guidance

📰 source: cnbc_topnews · 💼 business

qualcomm reported fiscal q3 earnings in line with expectations but issued light guidance for the current quarter, citing supply crunch and rising memory costs. ceo cristiano amon said the company will raise chip prices across the board starting september 1 to expand margins. shares fell in extended trading.

earnings per share came in at $2.21 adjusted, just below the $2.23 estimate, while revenue of $9.95 billion beat the $9.67 billion estimate. for the current quarter, qualcomm expects adjusted eps of $2.05-$2.25 on revenue of $9.7-$10.5 billion, below analyst expectations of $2.36 and $10.02 billion. handset chip sales were $5.1 billion, down 20% annually, reflecting a bottom in china. automotive was a bright spot at $1.59 billion, with a bmw chip deal announced. qualcomm also targets $5 billion in data center revenue next year and completed acquisition of ai software firm modular.

why it matters: qualcomm's price hike signals broad input cost inflation in semiconductors, affecting smartphone margins and consumer demand.

source: cnbc_topnews
sentiment: -0.30 · impact: 0.60

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects