Qualcomm stock is lower Thursday even after the chipmaker reported strong earnings and gave an encouraging outlook. This is what investors need to know.

Qualcomm on Wednesday forecast sales and profits above analyst expectations as artificial intelligence features helped fuel demand for smartphones, and its share price fell after the bell on expectations of flat revenue from its patent licensing business.

Despite all these outsized beats, Qualcomm stock took a nosedive about 20 minutes after the earnings release, before the earnings call began. Intellectual property licensing reven