Qualcomm (QCOM) CEO says issue is memory supply and not demand; demand for phones is strong

Qualcomm (QCOM) CEO says issue is memory supply and not demand; demand for phones is strong.

Qualcomm's CEO indicates that the current issues stem from memory supply constraints rather than weak demand, suggesting that the demand for phones remains robust. This distinction is significant because it may point to a supply-side adjustment rather than a fundamental demand weakness, which could influence market sentiment positively towards Qualcomm and the broader semiconductor sector.