An update from Qualcomm Inc (QCOM) is now available.
QUALCOMM Incorporated’s license to export 4G and certain other integrated circuit products to Huawei Device Co., Ltd. has been abruptly revoked by the U.S. Department of Commerce on May 7, 2024. Although the company had anticipated ceasing revenue from Huawei by the year’s end, the revocation accelerates this timeline. Nevertheless, QUALCOMM maintains its third-quarter financial projections unaltered, signaling confidence in its overall business stability despite the immediate compliance with the new export limitations.
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