Qualcomm slides 9% after earnings, leading postelection chip stock sell-off

TechPublished Thu, Nov 5 202610:18 AM ESTUpdated 20 Min AgoKey PointsQualcomm slightly beat Q4 earnings estimates, but issued light guidance. Chip stocks were lower across the board amid post-election fears of a data center slowdown.The chipmaker's handset sales fell 26% during the quarter, missing estimates.Qualcomm stock slid 9% on Thursday, leading chip stocks lower after the company issued a light forecast.The chipmaker, which reported Q4 financial results after the bell Wednesday, slightly beat Q4 estimates for earnings, but its current-quarter guidance came in weak.Qualcomm projected first-quarter adjusted earnings between $2.15 and $2.35 per share, below analysts' estimates of $2.27 per share. The company expects Q1 revenue to range from $10.4 billion to $11.2 billion, versus Wall Street estimates of $10.48 billion.Semiconductor peers, including AMD, Micron, Arm and Intel, also declined Thursday, continuing a post-election selloff on fears of a data center slowdown, as Democrats indicated plans for artificial intelligence regulation.The memory crunch has also weighed on the broader chip industry.Qualcomm's biggest slice of sales is from chips for smartphones, but rising memo...