Q4 guidance cites reduced shipments because of ‘the delay of a global 5G flagship phone launch’
We continue to gather shards of evidence around Apple’s upcoming iPhone 12 plans, so fresh statements from Qualcomm CEO, Steve Mollenkopf, add to the speculation. While announcing flat revenues, the company has managed to maintain its business during the pandemic, but Mollenkopf warned fourth quarter guidance might be impacted by a delayed product launch. “Our guidance for the fourth quarter of fiscal 2020 includes an impact of greater than ($0.25) to EPS attributable to a planning assumption of an approximate 15% year-over-year reduction in handset shipments due to COVID-19, including a partial impact from the delay of a global 5G flagship phone launch,” he said in a press release. “It’s very likely to be Apple,” Moor Insights & Strategy analyst, Anshel Sag said. What’s important to note is that Qualcomm’s comment doesn’t favor the idea of a lengthy delay to the product’s introduction, just a ‘partial impact’.
