Qualcomm shares slump as weak smartphone chip sales overshadow data-center momentum

Qualcomm ​shares dropped over 9% in early trading ​on Thursday after the company's ‌smartphone chip ​sales missed Wall Street estimates, raising concerns that weakness in its core handset business could offset gains from newer growth in ‌areas such as data-center chips.

If losses hold, Qualcomm is on track to shed over $17 billion in market value.