Nov 4th, 2009 - Wall Street Journal
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(Updates with analyst and executive comments.)
NEW YORK (Dow Jones)--Qualcomm Inc.'s (QCOM) fiscal fourth-quarter profit dropped 8.5% as charges, lower revenue and drooping margins weighed on results. Shares rose 0.4% to $41.78 in after-hours trading, even as the cellphone-chip maker provided a downbeat forecast for the current quarter. In recent weeks, chip makers reporting earnings have generally topped Wall Street expectations, though stocks for semiconductor makers have begun to slide from 52-week highs last month.
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