Apple is the No.1 reason why Qualcomm will keep underperforming – analyst

On Monday, Wells Fargo analyst Gary Mobley downgraded his rating on Qualcomm stock citing as a main reason Apple’s work to create its own internal modem starting with the iPhone 16 model range in 2024.Karishma Vanjani for Barron’s:Semiconductor makers have been hit hard this year as the fastest inflation in 40 years has crimped demand for chips in everything from home computers to smartphones. The iShares Semiconductor exchange-traded fund, which tracks the performance of t