Qualcomm's Trading Volume Drops 26.73% Ranking 86th in Market as Apple Transition Looms

On June 18, 2025, Qualcomm's trading volume reached $813 million, a 26.73% decrease from the previous day, ranking 86th in the day's stock market. Qualcomm (QCOM) fell by 0.51%, marking two consecutive days of decline, with a total decrease of 2.04% over the past two days.

Qualcomm's recent stock price target adjustment by analysts has raised concerns about the company's future prospects. The company's reliance on Apple, one of its largest customers, has become a significant challenge as Apple gradually shifts to its own modems. This transition has forced Qualcomm to explore new business avenues, including entering the data center market through the acquisition of Alphawave Semi.

Qualcomm's acquisition of Alphawave Semi is a strategic move to enhance its capabilities in high-speed wired connectivity and compute technologies, which are crucial for artificial intelligence training and inference. This acquisition is expected to be completed in the first quarter of 2026, pending finalization. The move is seen as a potential solution to recoup the lost revenue from Apple's increasing reliance on its own modems.

Analysts from Bank of America have revised their forecasts for Qualcomm, noting significant growth potential in the Internet of Things (IoT) and automotive sectors, which saw year-over-year increases of 27% and 59%, respectively. However, they warn that the smartphone market, which accounts for 73% of Qualcomm CDMA revenues, has peaked. They predict that Apple's contribution to Qualcomm's handset division will decline from 15% in 2024 to 6% by fiscal year 2027, and eventually drop to zero beyond 2027.

Despite lowering their stock price target to $200 from $245, Bank of America analysts maintain a buy rating on Qualcomm, citing potential upside. However, they highlight several risks, including the mature handset market with limited growth catalysts, the expected reversal of recent smartphone growth, and Apple's transition to its own modems for non-Pro phones. They also note that while AI PC and data center connectivity could contribute to growth, it may take time to offset the smartphone trends.