Qualcomm stock tumbles while chip ETFs rise — Apple modem fears return before CPI, earnings
Qualcomm shares fell about 3.5% to $171.64 by midday Monday after Mizuho downgraded the stock, citing weaker handset demand and risks to Apple modem market share. The drop outpaced gains in major chip ETFs. Investors await Tuesday’s U.S. CPI data and Qualcomm’s Feb. 4 earnings for further signals.