Wait, aren’t stock prices supposed to increase on good news? Apparently not always. Qualcomm’s stock took bit of a nosedive after the company announced that revenue had grown 15% to $2.31 billion from $2 billion, with Q4 2007 profits up to $1.13 billion from last year’s Q4 profits of $614 million.
It looks like all of Qualcomm’s legal battling hasn’t negatively affected their bottom line. If anything, the San Diego, CA.-based chipmaker seems to be taking all those legal affronts in stride. Afterall, Qualcomm is this green globe’s second largest supplier of mobile chipsets, and with the recent upturn in mobile demand, it makes sense that Qualcomm’s financial situation is looking quite rosy.
So, what’s with Qualcomm’s stock dip? Well, your guess is as good as ours. (Our guess is that investors see Qualcomm’s legal woes as a long-term threat to that oh-so-important bottom-line). Either way, kudos to Qualcomm.
[Via: Yahoo]