InstantWhyThe numbers
Investing.com reports that Qualcomm issued a weak profit forecast for the current quarter and said revenue from Apple is falling faster than previously expected. The guidance marks a deterioration in the chipmaker's outlook for its largest customer relationship. Qualcomm has not independently confirmed the report.
Why it matters
That shift directly threatens the revenue base Qualcomm has been trying to offset by pivoting toward automotive chips and AI applications in smartphones. The weak profit guidance suggests those newer businesses are not yet growing fast enough to compensate for the Apple losses.
How this compares
Qualcomm has struggled with guidance in recent quarters. In July the company posted third-quarter results that missed on profit despite beating revenue expectations, and its fourth-quarter earnings forecast came in below Wall Street expectations, sending shares lower. Analysts had been watching whether the chipmaker's push into AI-enabled smartphone processors and automotive applications could offset softening handset demand and the gradual loss of Apple's business as the iPhone maker develops proprietary modem technology.
What to watch
Investors will look for detail on how quickly Apple is replacing Qualcomm modems and whether the company can accelerate growth in its automotive and AI chip segments to fill the gap. The timing of Apple's full transition to in-house modems remains the key variable for Qualcomm's revenue trajectory over the next two years.
- ✓Detected and written at 2026-07-29 20:46
- ✓First reported by Investing.com
- ✓Written from public facts in our own words — never a copy
- ✓Published as fast as possible; our team holds editorial responsibility
Sources
- Investing.com — News: https://www.investing.com/news/stock-market-news/qualcomm-forecasts-weak-quarterly-profit-expects-apple-revenue-drop-to-accelerate-4821584
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