FILE PHOTO: A smartphone with a displayed Qualcomm logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Qualcomm's reliance on high-end smartphone chip sales and the looming loss of Apple as a modem customer overshadowed the company's optimistic quarterly forecast on Wednesday, driving shares down more than 6%.
The San Diego-based company is the world's largest supplier of modem chips that enable smartphones to connect to wireless data networks.
