Qualcomm stock fell about 4% on July 30 after fiscal Q3 earnings beat on revenue but missed on profit, with weak Q4 guidance on top. The company posted $9.9 billion in revenue, ahead of the $9.68 billion Wall Street expected, but adjusted earnings of $2.21 a share came in a couple of cents below the roughly $2.22 consensus. CEO Cristiano Amon says rising memory chip and component costs are behind the margin squeeze, and Qualcomm is raising prices on its chips starting September 1. The same day, Qualcomm closed a $3.9 billion purchase of AI software company Modular and put its co-founder, Chris Lattner, in charge of Qualcomm's AI software strategy.