Qualcomm's Chip Crisis: Smartphone Sales Plummet by 20%

US chipmaker Qualcomm reported a 20% decline in smartphone sales and profits for the latest quarter, citing rising semiconductor costs and global demand slowdown. CEO Cristiano Amon forecasted lower revenue for 2024. Markets are assessing the risk of the chip crisis spreading across the tech sector. Qualcomm's stock dropped 5% following the announcement.

The solution to the chip crisis isn't just building new factories—it also requires addressing the US-China trade war's impact on supply chains. The ECB's upcoming rate decisions may reflect growing global economic concerns. Eurozone inflation's decline could support Qualcomm's cost-cutting efforts.

Qualcomm's Chip Crisis: Smartphone Sales Plummet by 20%

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