Why Qualcomm Shares Are Trading Lower Today

Qualcomm QCOM shares are trading lower on reports Apple will begin using in-house 5G modems for its 2023 iPhones.

Qualcomm develops and licenses wireless technology and also designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G and 4G networks.

The stock was trading 4.85% lower at $131.16 per share at the time of writing. The stock has a 52-week high of $167.94 and a 52-week low of $74.37.