On September 1, Qualcomm fell 3.4% in regular trading, trading at $163.2/share, with turnover of $111 million. The stock gave back gains from the prior session, when it had risen 3.83% on chip price hike expectations.
On the news front, despite Qualcomm officially implementing double-digit chip price increases effective September 1, multiple institutions have cut their target prices in recent days. TD Cowen lowered its target from $195 to $160, while Bank of America reduced its target to $180, both citing concerns that rising costs will squeeze gross margins. RBC Capital Markets highlighted dual challenges of higher component costs and custom silicon uncertainty, noting that Apple-related revenue is expected to decline approximately 50% from the September quarter to the December quarter as supply constraints reduce Qualcomm's share in iPhone 18 models. CEO Cristiano Amon stated the price increases are intended to pass through significant cost pressures from suppliers. The broader semiconductor sector also declined, with Intel down 3.11%, AMD down 2.87%, NVIDIA down 2.33%, Marvell Technology down 3.8%, and Micron Technology down 1.32%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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