AI-Driven Memory Shortage Presses Qualcomm (QCOM) Shares

[Para 1: The Lead] AI-driven demand for high-bandwidth memory is squeezing DRAM supplies, creating a structural imbalance that is curtailing smartphone production and sending pressure on chipmakers. Qualcomm (QCOM) warned of memory constraints, prompting a reassessment of near-term operations and a 7.29% drop in its Thursday, February 5 price to $138.04 per share. [Para 2-3: Supporting details & Context] The strain reflects a shift in supply from mobile DRAM to HBM for AI data centers, pushing handset makers to adjust production and prioritize components. Analysts expect a contraction in smartphone SoC outtakes as supply constraints ripple through the value chain. While Qualcomm expands into automotive and IoT, the memory shortage remains a key uncertainty for its near-term performance.