Two parties fresh from a legal showdown published their quarterly results, with Wall Street taking a dour outlook. Both Arm and Qualcomm beat analyst estimates, but their share price took a tumble, in a market that is still adjusting to the honeymoon period of the second Trump administration. Qualcomm’s Q1 revenue hit $11.67 billion, up 17% from $9.99 billion in Q1 2024. Net income was $3.18 billion, up 15% year-on-year. Nonetheless, its share price plummeted in the wake of the announcement, by around 4.5%, from around $175.86 to $167.97. It currently sits at some $169.32. Arm Holdings, meanwhile, posted Q3 revenues that were up 19% year-on-year – some $983 million. Royalty revenue was up 23%, to $580 million, with licensing…