Qualcomm stock sinks 10% as company issues dire warning on memory shortage

Group 1 - Qualcomm shares fell by 10% following disappointing guidance due to high demand for artificial intelligence data centers impacting memory chip supply for consumer electronics [1] - CEO Cristiano Amon stated that the weakness in performance was entirely related to memory supply issues [1] - The availability of dynamic random access memory, essential for smartphones, computers, and wearable technology, has decreased compared to the previous year [1] Group 2 - Despite strong demand for handsets, the supply of memory chips is declining as more resources are allocated to high-bandwidth memory for data centers [2] - Amon indicated that the market will be influenced by the available memory supply, leading customers to adjust their production plans accordingly [2]