Qualcomm’s stock is under pressure as Q3 earnings loom, with a 3% revenue drop and weaker EPS driven by a 13% slump in handset chip sales. Rising memory chip prices are squeezing phone makers, prompting Qualcomm to hike chip prices starting September 1—and lowering its own revenue outlook. Apple’s ongoing shift to in-house modems adds further strain. Yet, the company remains shareholder-friendly with aggressive buybacks and a 2.2% dividend yield. Analysts see strength in diversification, especially in autos. Watch for signs Chinese handset revenue is bottoming and auto growth continuing—consider a cautious buy, but wait for clearer data before jumping in.
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