Qualcomm shares fell sharply in Wednesday trading after the semiconductor giant reported fiscal third-quarter earnings that met analyst expectations but offered little clarity on future growth.
The company provided light guidance for the current quarter, citing an ongoing supply crunch in the memory market as a headwind to revenue momentum.
CEO Cristiano Amon signaled that the cost pressures are not temporary.
In an interview following the earnings release, Amon stated that production costs have risen and that prices for Qualcomm's products will follow.
The comment underscores the severity of the memory shortage, which is forcing chipmakers to absorb higher input costs or pass them down the supply chain.
The price increase is expected to impact Qualcomm's Snapdragon chipsets, with adjustments slated to begin in September 2026.