Qualcomm Forecasts Weak Q4 Profit, Apple Share Decline

Qualcomm, a big chip maker, said it will make less money in the next quarter than many people expected.

The company’s boss, Cristiano Amon, said that the cost of making chips has gone up, especially for memory chips.

To keep its profits healthy, Qualcomm plans to raise prices from September 1.

The company also expects that fewer parts will go into Apple’s new iPhones because of supply limits, so Apple’s share of Qualcomm’s sales will drop below 20%.

In the future, Qualcomm hopes to sell more chips for data centers instead of just phones.