Qualcomm Shares Dip 1.86% on Surge to 31st Trading Volume Rank as Trade Pressures and iPhone Shift Weigh on Outlook

On July 30, 2025, Qualcomm (QCOM) closed with a 1.86% decline despite a surge in trading volume to $2.29 billion, ranking 31st in the market. The stock’s performance reflected mixed signals from its business outlook and external trade pressures.

The chipmaker projected September-quarter revenue between $10.3 billion and $11.1 billion, exceeding Wall Street estimates of $10.64 billion. This forecast underscored confidence in AI-driven demand for its semiconductors, despite ongoing global trade uncertainties. However, CFO Akash Palkhiwala noted no signs of customers accelerating orders to avoid potential tariffs, a risk highlighted by U.S. President Donald Trump’s recent warnings about sector-specific levies on semiconductors.

Qualcomm’s reliance on high-end smartphone chip sales and the anticipated loss of Apple as a modem customer weighed on investor sentiment. Revenue from non-Apple clients rose over 15% year-to-date, driven by higher average selling prices for flagship Android devices. Meanwhile, MediaTek’s growing market share in mid-range segments and Apple’s transition to in-house modems signaled long-term challenges for Qualcomm’s core business.

The company also emphasized growth in emerging markets, including augmented-reality glasses and automotive technologies. CEO Cristiano Amon highlighted 19 active designs for AR devices, such as Meta’s Ray-Ban, and expansion in automotive digital cockpits. However, investors reacted cautiously to fourth-quarter guidance, which fell below analyst expectations, citing concerns over soft demand in end markets.

A strategy of buying the top 500 stocks by daily trading volume and holding them for one day generated a 166.71% return from 2022 to July 30, 2025, outperforming the benchmark by 137.53%. This approach, with a compound annual growth rate of 31.89%, demonstrated strong risk-adjusted performance, driven by liquidity in high-volume equities like PTC, Ingersoll Rand, and Adobe.