Shares of Qualcomm (QCOM) and Arm Holdings (ARM) fell in pre-market trading Thursday after both reported earnings the day before. Qualcomm beat on results, but its phone business shrank sharply and its next-quarter profit forecast fell short, which the article attributes to soaring memory costs hitting its AI-driven businesses. Qualcomm shares were down about 11% pre-market. The CEO said the issue is supply rather than demand, while Interactive Brokers strategist Steve Sosnick noted that chips are cyclical and that investors currently have little tolerance for bad news on the AI trade. Qualcomm's auto business is small but growing 90%, and the company reportedly signed a deal with SpaceX for chips used in towers for the 5G terrestrial build-out.
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AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/04/2026 | 349.62 |
| Change that session | +5.34% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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