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

Qualcomm shares fell about 5% 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.