Qualcomm Hints at iPhone 12 Delay

Qualcomm Hints at iPhone 12 Delay

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Qualcomm hinted that Apple's iPhone 12 may be delayed in its earnings release for FY 2020 Q3 today. The company said that the delay of a "global 5G flagship" has affected its guidance for fiscal Q4. Although it didn't specifically name Apple, it's likely that the iPhone 12 is the device being referred to.

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. However, the actual impact may differ materially due to the challenging economic environment and highly uncertain effects of COVID-19. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our most recent quarterly report on file with the Securities and Exchange Commission (SEC) provides a more complete description of our risks.

In an interview with Reuters, Chief Financial Officer Akash Palkhiwala also said:

“We’re seeing a partial impact from the delay of a flagship phone launch. And so what we’ve seen is a slight delay that pushes some of the units out from the September quarter to the December quarter for us.”

Qualcomm expects current quarter adjusted revenue of $5.5 billion to $6.3 billion. More details in the release linked below.

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Qualcomm Hints at iPhone 12 Delay