Qualcomm Is Down 24% in 2026 and Just Announced a $20 Billion Buyback. Is That Bullish or a Warning Sign?

It's been a challenging start to 2026 for Qualcomm (QCOM +0.19%). The memory shortage is impacting the company's smartphone component sales, which is its core business. Its partnership with Apple could also end this year, as the tech giant is developing its own custom-designed modem chips to avoid relying on Qualcomm.Due to the negative news, Qualcomm's stock is down 25% year to date as of March 23. But it recently announced authorization of a $20 billion share buyback -- a sizable sum considering its marke ...