Qualcomm announced a recruitment freeze due to poor performance. After-hours share price fell by nearly 7%. How will its development be affected?

Qualcomm's performance is poor, and its holiday season (the first fiscal quarter of fiscal year 2023) revenue is expected to be about $2 billion lower than that of Wall Street. They are struggling to cope with the problems caused by the decline in sales of smartphone customers, resulting in their share price falling by 7% in after-hours trading. In addition, Qualcomm also said that it implemented a recruitment freeze at the beginning of this quarter.

Qualcomm's declining performance may have an impact on its future development. Qualcomm is a semiconductor company, and its products are mainly used in mobile devices such as mobile phones, tablet computers and notebook computers. If Qualcomm's performance continues to decline, it may lead to a decline in its market share, thus affecting its profitability.