Qualcomm Tumbles After China Woes Hits Apple, Huawei Vendors
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Qualcomm Inc., the world’s biggest supplier of smartphone chips, suffered its worst stock decline in a month after upheaval in China threatened the company’s sales in a critical market.
The risks for Qualcomm are coming on multiple fronts. Apple Inc.’s iPhone is facing a widening ban in China that would bar the device from government-backed agencies and state companies. Qualcomm is one of the iPhone’s biggest vendors, responsible for the product’s modem chip.