Why Qualcomm Has Ruled Against The Spin-Off Of Its Chip Business In The Offing?

Qualcomm has been on the defensive in recent months, uncharacteristically so. March-period earnings were strong, though the company lowered full year guidance, as we noted at the time. Contributing to the diminished outlook was the exclusion of its application processor from Samsung?s new Galaxy S6 smartphone due to issues with the "Snapdragon 810" part overheating during Samsung tests. On top of this, the hedge fun Jana Partners, having taken a $2 billion position in the company, has been pushi...