Qualcomm (QCOM) stock slips as Trump’s AI-chip tariff and RBC’s “no catalysts” call hit the tape
Qualcomm shares closed down 0.5% at $164.54 Wednesday and slipped further after hours following President Trump’s 25% tariff on select AI chips, including Nvidia and AMD models. RBC initiated Qualcomm coverage with a “Sector Perform” rating, citing pressure from Apple and Samsung and limited near-term catalysts.