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NSA Fallout Spreads: Qualcomm Probed By Chinese Regulator In "Confidential" Investigation

• Zero Hedge

The recent collapse in the forward guidance from Cisco and various other tech and telecom companies has been widely attributed to the world's - and mostly China's - anger at the NSA in the aftermath of the Snowden revelations, resulting in a dramatic collapse in both future visibility and orderbooks. This was admitted in a recent WSJ interview with the CEO of Qualcomm, Paul Jacobs, acknowledged U.S. restrictions on Chinese companies and revelations about surveillance by the National Security Agency are impacting its business in the fast-growing country.
"We are definitely seeing increased pressure," said Mr. Jacobs in an interview with The Wall Street Journal. "All U.S. tech companies are seeing pressure."
 

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