Legal, customer, demand and acquisition issues; Qualcomm’s troublesome Q2

A lengthy legal dispute with Apple, weakening demand for 3G/4G devices, fending off Broadcom, potentially losing ZTE as a customer and regulatory blockages in China; it’s been an chaotic quarter for Qualcomm.
That said, it wasn’t exactly a bad period for the chip giant. Sequentially revenues were down 13%, though that was to be expected following seasonal demand, but at $5.3 billion the team managed to realise a 5% year-on-year increase. The management team has warned of declining re