Why Qualcomm Stock Fell 9% Despite Beating Earnings Estimates

Qualcomm's stock fell nearly 10% despite beating Q4 earnings estimates, as investors worried about the company's future growth prospects. The chipmaker's core handset business revenue plummeted 26% to $5.1 billion, and weak guidance for Q1 disappointed the market. While management projects a shift toward data center chips with 60% growth expected, analysts express skepticism about the company's ability to successfully execute this transition amid uncertain AI demand.