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Qualcomm shares drop as chip supply constraints hold back sales
A sign on the Qualcomm campus is seen in San Diego, California, on Nov 6, 2017. REUTERS/Mike Blake)
04 Feb 2021 05:05AM (Updated:
04 Feb 2021 06:25AM) Share this content
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REUTERS: Qualcomm Inc shares dipped as much as 9per cent in after-hours trading on Wednesday as the company said that semiconductor supply constraints that have roiled the industry contributed to fiscal first-quarter sales that slightly missed Wall Street expectations.
The results come as chip shortages force automakers such as General Motors Co on Wednesday to cut production at multiple plants. While Qualcomm does not make the chips that are holding up automotive plants, the company works with some of the same chip contract manufacturers that are backed up, and Qualcomm executives told Reuters tha
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By Stephen Nellis (Reuters) - Qualcomm Inc shares fell 7.6% in after-hours trading on Wednesday as the company said that semiconductor supply constraints that have roiled the industry were hampering its sales growth. The results come as chip shortages force automakers such as General Motors Co on Wednesday to cut production at multiple plants. While Qualcomm does not make the chips that are holding up automotive plants, the company works with some of the same chip contract manufacturers that are backed up. Qualcomm executives told Reuters that supplies will remain tight through the first half of 2021 without detailing the supply issue.
Updated:
January 13, 2021 12:27 IST
The single-passenger Cadillac - technically, a vertical take-off and landing (VTOL) drone - will be able to travel from urban rooftop to urban rooftop at speeds up to 55 miles per hour.
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Barra last year revealed the automaker was exploring such alternative transportation modes as aerial taxis.
| Photo Credit: GM via Reuters
The single-passenger Cadillac - technically, a vertical take-off and landing (VTOL) drone - will be able to travel from urban rooftop to urban rooftop at speeds up to 55 miles per hour.
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