Chip Crunch Easing: Qualcomm CEO
Chip demand is “extremely strong across the board,” said Qualcomm Chief Financial Officer Akash Palkhiwala. “We are continuing to see demand outpacing supply.” It put second-sourcing plans in place “very early in the process,” he said. “We have three second-sourcing…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
parts, especially in the mid-high tiers that are shipping at scale now, and that shows up in our financial performance.” The worldwide chip crunch is easing, but “we would ship more if we could,” said CEO Cristiano Amon. Qualcomm is standing by its previous forecasts that the industry will ship more than 750 million 5G handsets in 2022, which would be about 40% growth from 2021, said Palkhiwala on a call Wednesday for fiscal Q1 ended Dec. 26. The stock closed down 4.8% Thursday at $179.10.