New York, February 23, 2026, 18:46 EST — Trading after the bell
Qualcomm Incorporated (QCOM.O) dropped $2.44, or 1.7%, to $140.41 in late after-hours trading on Monday. Shares earlier moved between $139.66 and $144.01 during the regular U.S. session.
Stocks slid after President Donald Trump announced a temporary tariff hike from 10% to 15%, a response to the Supreme Court decision curbing his powers on broad import levies. Investors rotated out of risk assets, steering clear of technology shares facing fresh threats from emerging AI tools. Pressure on those names lingered.
The Dow slipped 1.66%, while the S&P 500 lost 1.04% and the Nasdaq gave up 1.13%, according to Reuters. “You’ve seen the market react to headlines, it’s ‘sell first, assess later,’” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. Traders are zeroing in on Nvidia’s quarterly numbers, due out Wednesday, February 25. Reuters
Qualcomm’s still dealing with the fallout from its guidance cut earlier this month. Now, the company is projecting revenue between $10.2 billion and $11 billion for the current quarter, and expects adjusted EPS to land in the $2.45 to $2.65 range. The culprit: a memory chip shortage, which Qualcomm says is holding up smartphone production for clients like Apple and other big Android makers. “I just wish we had more memory,” CEO Cristiano Amon told Reuters. Bob O’Donnell at TECHnalysis Research doesn’t see relief coming fast, warning the supply squeeze could drag on “the next several quarters.” Reuters
Qualcomm lagged behind other chip names on Monday, despite Nvidia finishing in the green. Broadcom and Intel slipped too, but their declines weren’t as steep as Qualcomm’s. Roughly 8.2 million Qualcomm shares changed hands—about 1.5 million below the 50-day average, according to MarketWatch data. The stock is now trading nearly 32% off its 52-week peak of $205.95.
Investors are eyeing Qualcomm’s push into custom AI chips. While Evercore still calls Broadcom “best-in-class” for this segment, the firm notes that Qualcomm is starting to gain traction, per Seeking Alpha. Seeking Alpha
Still, the immediate threat remains. Qualcomm execs warn that the memory shortage may persist through this fiscal year, possibly extending those supply constraints into 2027. That scenario could continue to restrict demand for smartphone chips, even if shoppers are looking to buy.
There’s a key shareholder date on the calendar. Qualcomm plans to hand out its regular cash dividend—89 cents per share—on March 26. But to get the payment, investors must be on record as of the close on March 5. That’s the date that determines eligibility for the dividend.
Nvidia’s earnings are on deck for Feb. 25, a date traders have circled, especially with fresh tariff news in play that could shake up the sector. For Qualcomm, those holding shares are keeping close tabs as the March 5 dividend record date approaches, eyeing the stock’s moves up to then.
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