Business · 46m ago
Qualcomm warns Apple business shrinking faster due to supply constraints
Qualcomm reported weaker-than-expected profit guidance for the current quarter, citing supply constraints that are accelerating the decline in revenue from Apple products. The CEO told Reuters the chipmaker's Apple-related business is shrinking faster than previously anticipated. The news sent Qualcomm shares down in after-hours trading.
Meridian48 take
Qualcomm's reliance on Apple has long been a risk, and supply chain issues are now compounding the inevitable loss of modem orders as Apple develops its own chips.
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Qualcomm says supply constraints are shrinking its Apple business faster than expected →
9to5Mac
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