Why Qualcomm Shares Are Falling

QUALCOMM, Inc. QCOM shares are trading lower by 4.67% to $109.25 Tuesday morning. Shares of semiconductor and chip companies at large are trading lower after the U.S. recently placed restrictions on exports of certain high-end chips to China.

What Happened?

Shares in top Chinese chipmakers shed $7.7 billion in market value on October 10, as new U.S export controls restricted the sale of semiconductors made with U.S. technology unless vendors obtain an export license.

The controls also barred U.S. citizens or entities from working with Chinese chipmakers without explicit approval and limited the export of manufacturing tools that would allow China to develop...Read More

See Also: PC Shipments See Record Plunge In Q3 — What That Means For Apple, AMD, Intel And Others

According to data from Benzinga Pro, Qualcomm has a 52-week high of $193.58 and a 52-week low of $108.93.