Shares of Qualcomm tumbled nearly 9% on Thursday after a gloomy forecast signaled more pain for the largest maker of smartphone chips from the ongoing slump in the consumer electronics market. The chipmaker’s current-quarter revenue forecast below estimates also sent investors scurrying. The San Diego-based company makes about half its profits from making the processors that power smartphones, including Apple’s iPhone, and the modem chips that connect those phones to high-speed data networks. The rest of its profit comes from licensing the fundamental technology that runs modern mobile networks – fees that phone manufacturers pay whether they use Qualcomm chips. … Continue reading Qualcomm Braces for More Pain From Smartphone Slump