Qualcomm Unveils Snapdragon 8 Elite Gen 6 Chips; Cisco Falls 4.5% on Piper Sandler Downgrade

Qualcomm (QCOM-US) launched two new smartphone processors — Snapdragon 8 Elite Extreme Gen 6 and Snapdragon 8 Elite Gen 6 — at its annual Snapdragon Summit in Maui on September 22, 2026. The chips are designed for agentic AI applications. OpenAI simultaneously expanded its GPT-6 lineup with Sol and Luna models, cutting API pricing 50% below GPT-5.6 promotional rates. Cisco (CSCO-US) shares fell 4.5% on September 22 after Piper Sandler lowered its price target to $125 from $132, citing concerns that industry growth may be peaking. Separately, a financial disclosure showed President Trump's investment account executed 1,156 securities trades in July 2026, including sales of up to $25 million each in Microsoft (MSFT-US) and Amazon (AMZN-US) stock, with total transaction value reaching as high as $270 million. Meta (META-US) is testing a "human concierge" feature in which contractors place calls on behalf of its new AI assistant, Muse, raising employee privacy concerns.