Bloomberg Surveillance · Wednesday, July 29, 2026
Qualcomm's stock declined following its forecast, citing component shortages and rising costs, which are reportedly impacting the smartphone market more than anticipated. The company is also facing challenges with Apple's reduced business and exposure to the Android market in China.
“So it's not new. I would say. In the smartphone market, it seems worse for Qualcomm than we thought. You know, they are the main processor makeup for smartphones. They are getting hit on all sides because of m market demand, being hit by memory for example.”
“They've tried to diversify the business away from that reliance on smartphone, but within smartphone they're also kind of it seems like losing business from Apple faster than was modeled for.”
“And then like they are super super entrenched or exposed to Android in China, right, and so like in aggregate all of the forecasts for that that handset market, they aren't. They want Rosie to begin with the thing that I will ask Christiano is for him to give me his latest assessment of the smartphone market.”