Qualcomm: 10 Weeks of Inventory Left to Clear

According to market sources, Qualcomm has forecast a less-than-optimistic outlook for its Q1 FY23 revenue, with a potential year-over-year decline of up to 20%. 

The global smartphone market has been underperforming beyond the company's expectations, leading Qualcomm to take significant actions to address the situation. As a result, the company's core business may need to clear up to two months or longer of inventory.

During a financial earnings call, Qualcomm's CFO, Akash Palkhiwala, noted that its customers are actively reducing inventory, which has negatively impacted the company's recent financial performance. 

It is estimated that approximately 10 weeks' worth of inventory remains to be absorbed by its customer base.

About Qualcomm
Qualcomm, headquartered in San Diego, California, is a leading semiconductor and wireless communications technology company. Founded in 1985 by UC San Diego professors Irwin Mark Jacobs and Andrew Viterbi, Qualcomm originated from their earlier venture, Linkabit. The name "Qualcomm" is derived from "Quality Communications," reflecting the company's dedication to delivering high-quality wireless technology solutions.