Qualcomm forecasts weak quarterly profit, expects Apple revenue drop to accelerate

July 29 : Qualcomm forecast fourth-quarter profit below Wall Street estimates on Wednesday, and said revenue from Apple products would decline faster than expected as supply constraints and rising costs weighed on its business.Shares of the San Diego, California-based company fell more than 4 per cent in extended trading.In an interview with Reuters, CEO Cristiano Amon said costs had risen not just for memory chips, but across the supply chain. Qualcomm plans to raise prices starting September 1 in an effort to return its margins to historical levels, he said. "We're just passing through big cost increases that we have," Amon said, noting that Qualcomm will have to negotiate with each customer. "The temporary disconnect between cost and pricing causes a slight decline temporarily in gross