Qualcomm Cuts Forecast As Memory Supply Tightens

Qualcomm said in May 2025 that memory shortages driven by surging AI data-center demand are constraining smartphone-related supply, sending shares down about 10%. CEO Cristiano Amon told analysts the weakness was "100% related to memory" as DRAM availability fell year-over-year; Qualcomm beat fiscal first-quarter estimates but forecast revenue of $10.2–11.0 billion and adjusted EPS $2.45–2.65.