Why QCOM down today on premarket

The stock price of QCOM has experienced a significant drop in the premarket trading session. Several factors may have contributed to this decline:

1. **Apple Modem Shift**: The looming loss of Apple as its biggest modem customer is a significant concern. Apple's shift to in-house modems, starting with the iPhone 16e, is expected to impact Qualcomm's future chip revenue.
2. **Tariff Threats**: The renewed tariff threats on semiconductors by U.S. President Donald Trump could disrupt supply chains and hurt Qualcomm's handset revenue.
3. **Disappointing Guidance**: Despite beating Wall Street expectations for its fiscal third-quarter results, Qualcomm's in-line fourth-quarter guidance has raised concerns over end-market demand.
4. **Market Sentiment**: The combination of these factors, along with general smartphone market weakness and the ongoing tariff concerns, has led to a negative sentiment among investors. This sentiment could have contributed to the premarket drop in QCOM's stock price.

In summary, the premarket drop in QCOM's stock price today can be attributed to a combination of factors including Apple modem shift, tariff threats, disappointing guidance and market sentiment.