QUALCOMM Incorporated QCOM shares are trading lower, alongside semiconductor and chip stocks, in possible sympathy with Texas Instruments TXN, which reported worse-than-expected third-quarter sales results and issued fourth-quarter revenue guidance below estimates.
What To Know: Texas Instruments reported results after the close of the market Tuesday. The company reported quarterly earnings of $1.85 per share, which beat the analyst consensus estimate of $1.81, and quarterly sales of $4.53 billion, which missed the analyst consensus estimate of $4.57 billion.
The company issued fourth-quarter revenue guidance in a range between $3.93 billion and $4.27 billion, versus the $4.49 billion estimate. Earnings per share is estimated to be between $1.35 and $1.57.
Related Link: Texas Instruments Analysts Slash Their Forecasts After Q3 Results
QCOM Price Action: Shares of QCOM were down 4.25% at $104.75 at the time of publication, according to Benzinga Pro.
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