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Qualcomm shares slide as Apple-linked revenue outlook worsens
The chipmaker says revenue tied to Apple products will decline even faster than it previously expected, while memory inflation and supply chain costs are squeezing handset demand and margins.
Qualcomm’s stock has fallen amid pressure on its smartphone business, even as investors continue to weigh its broader push into areas such as automotive and data center AI, according to MarketBeat Ratings. The outlet cited recent results that showed sales down 4% year over year, with earnings missing analysts’ predictions slightly. It also pointed to ongoing volatility after the shares traded around the $250 level in late May 2026 before moving down to the mid-$160s more recently. A key concern for investors is Qualcomm’s reliance on Apple products. The company now expects revenue related to Apple products to decline even more rapidly than previously expected, which MarketBeat Ratings said contributes to a shrinking opportunity tied to future iPhone launches. MarketBeat Ratings also highlighted margin headwinds from memory inflation and supply chain costs, which it said have contributed to weaker handset demand and forced Qualcomm to raise prices to help manage those pressures. Despite the downgrade in sentiment around the handset segment, the article noted an overall Hold rating and a Wall Street consensus price target of about $204.