New York, Jan 14, 2026, 13:22 EST — Regular session
- Shares slipped 1.5% early afternoon, deepening a decline seen over several days
- Report highlights scarce supplies of high-end “glass cloth” critical for advanced chip packaging
- Upcoming catalysts include TSMC’s earnings release early Thursday and Qualcomm’s report on Feb. 4
QUALCOMM Incorporated (QCOM.O) slipped 1.5%, hitting $162.73 early Wednesday afternoon, which also marked its session low. Trading volume reached roughly 3.4 million shares. 1
The slide is significant, but it’s not about demand this time. The concern now centers on supply — a niche, critical component that could choke production if availability shrinks more. Markets have been quick to sell off anything suggesting a fresh bottleneck.
The timing couldn’t be worse for sentiment. Chip stocks have been volatile heading into earnings season, and with Qualcomm’s report looming, traders are grabbing onto every new signal—no matter how unusual.
Nikkei Asia reports Apple is rushing to lock down supplies of high-end glass cloth fiber, a key material for chip substrates and printed circuit boards (PCBs), which serve as the foundation connecting chips within devices. The shortage is being driven by soaring AI-related demand from firms developing cutting-edge chips and servers, according to a 9to5Mac report.
Apple is actively working to qualify alternative suppliers, and Qualcomm is exploring options as well, including visits to Japan’s smaller supplier Unitika, according to iClarified. Industry executives speaking to Nikkei Asia say new capacity likely won’t come online until the second half of 2027, the report added. 2
Not everyone is pulling back from the chip sector. Bernstein analyst Stacy Rasgon said there’s “little reason to change our broad perspective” on chips, noting that AI spending “shows no signs of slowing,” according to TipRanks, which referenced a recent note. The firm continues to favor Qualcomm, despite the ongoing debate over Apple’s efforts to cut its reliance on Qualcomm modems. 3
Qualcomm’s dip on Wednesday came after a steep drop the day before, when shares slid 2.35% to $165.29, marking a third consecutive losing session. The chipmaker’s stock has lagged behind several large-cap competitors and remains roughly 20% shy of its 52-week peak, according to MarketWatch data. 4
The broader market dragged lower again, with Wall Street’s key indexes falling for a second day. Investors mulled over mixed results from banks alongside new economic data, Reuters said. That environment continues to weigh on high-multiple tech and chip stocks. 5
Traders are zeroing in on Taiwan Semiconductor Manufacturing Co, the globe’s largest contract chipmaker, for clues in the near term. TSMC’s fourth-quarter earnings call is set for Thursday at 1:00 a.m. Eastern time. 6
Qualcomm’s next major event is its fiscal first-quarter earnings. The company plans to hold its Q1 FY26 results call on Feb. 4 at 1:45 p.m. PT, according to its investor relations page. 7
One risk: the glass-cloth story might lose steam quickly if it remains just a headline rather than turning into a real bottleneck. But if the choke point tightens, it could drive up costs or throw a wrench into supply planning—just as investors are trying to gauge handset momentum and customer concentration.
TSMC’s earnings, due early Thursday, mark the next key moment for markets. Then Qualcomm follows with its report and conference call on Feb. 4, after U.S. trading ends.
