All articles tagged with #smartphone demand
A survey indicates that nearly 70% of U.S. iPhone owners plan to upgrade to the iPhone 17, with strong interest in the Pro models, driven mainly by battery life improvements and new features, despite some concerns about price and competition from foldable phones. Apple is expected to announce the iPhone 17 on September 9.
Qualcomm reported better-than-expected fiscal first-quarter results driven by a recovery in smartphone demand, with adjusted earnings per share of $2.75 on revenue of $9.92 billion. However, concerns arose as the company predicted flat chip revenue in China for the next quarter, leading to investor wariness and a slip in share prices despite the profit beat. Analysts noted potential market share headwinds and limited growth potential in the intermediate term.
Taiwan Semiconductor Manufacturing Co. (TSMC) anticipates a return to solid growth in the first quarter and has room to increase capital spending in 2024, signaling optimism for a recovery in smartphone and computing demand. The company projects revenue growth of at least 8% in the March quarter and plans capital expenditure of $28 billion to $32 billion, potentially up from 2023. TSMC's outlook reflects signs of a recovery in the chipmaking sector, with CEO C. C. Wei expecting a return to "healthy growth" this year. However, uncertainty persists due to challenges in the consumer electronics industry and questions surrounding China's market.
Apple's stock is set to end its seven-month winning streak as concerns over declining smartphone demand have caused a 4.5% drop in August. Despite this, the stock is still up 44.4% year-to-date, outperforming the Nasdaq 100 and the Dow Jones Industrial Average.
Qualcomm's stock is falling after the company provided a revenue forecast for the September quarter that fell below expectations, reflecting disappointing smartphone demand.