Qualcomm (QCOM) Beat-Down May Be Tied to Nokia (NOK)
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Shares of Qualcomm (Nasdaq: QCOM) are trading lower today and are down over 4 percent intra-day. The move appears to be tied to the selloff in shares of Nokia (NYSE: NOK), which are getting hammered.
Qualcomm is a chip supplier for Nokia Lumina Windows based smartphones.
With its announcement that it will layoff 10,000 employees, Nokia said prices on the new Lumia phone will below that of the Lumia 610. This could have some thinking margins at Qualcomm could get squeezed.
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Qualcomm is a chip supplier for Nokia Lumina Windows based smartphones.
With its announcement that it will layoff 10,000 employees, Nokia said prices on the new Lumia phone will below that of the Lumia 610. This could have some thinking margins at Qualcomm could get squeezed.
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