Qualcomm's profit slid as higher costs squeezed margins and Apple chip revenue shrank faster than expected

The chipmaker plans to raise prices starting September 1 to offset industry-wide cost increases, while its outlook for the current quarter came in below analyst expectations

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

After Qualcomm released its quarterly report and projected weaker-than-expected profit for the current quarter, the company’s CEO told Reuters that supply constraints would cause its revenue from Apple products to decline faster than expected. Here are the details.

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