Qualcomm shares slide as higher costs, Apple-related weakness cloud profit forecast

July 30 : Qualcomm shares fell about 5 per cent in premarket trading on Thursday after the chipmaker's warning about higher memory costs and a steeper decline in Apple revenue raised concerns about near-term profit growth.A surge in AI infrastructure spending has tightened semiconductor supply chains, driving up costs for memory, wafers, packaging and testing. Qualcomm plans to pass on those increases to customers through double-digit price hikes."Cost increases and higher spending are significantly impacting margins, and while the company is trying to raise prices to compensate, the forthcoming data-center ramp seems likely to more than offset that pricing action," Bernstein analysts said. Qualcomm said on Wednesday the benefits from price increases would emerge gradually over the next co