Wednesday afternoon, investors will be paying close attention to the impact of Trump administration tariffs as well as the looming loss of Apple Inc.’s business. Perhaps less important than the numbers themselves will be the company’s commentary on what’s ahead.

All together, Qualcomm's business selling chips, called QCT, rose 18% on an annual basis to $9.47 billion in revenue during the quarter.

Revenue Below Estimates, Shares Drop 6% By Arsheeya Bajwa and Max A. Cherney (Reuters) - Qualcomm on Wednesday forecast third-quarter revenue just shy of Wall Street estimates, expecting tepid demand for its smartphone chips as the CEO expressed concern about the macroeconomic environment and global trade.