Apple’s In-House Modem Chips Threaten Qualcomm’s (QCOM) Major Customer Base.

1 week ago 18

Soumya Eswaran

Fri, May 29, 2026 astatine 8:23 AM CDT 3 min read

Impax Asset Management, an concern absorption steadfast based successful London, specializing successful sustainable investing, released its first-quarter 2026 capitalist missive for its “Impax US Sustainable Economy Fund”. A transcript of the missive is disposable to download here. The US Sustainable Economy portfolio underperformed the Russell 1000 benchmark successful Q1 2026, chiefly owed to its deficiency of vulnerability to the surging Energy sector. Despite immoderate archetypal enactment from coagulated firm net and falling enslaved yields, the marketplace became risk-averse owed to escalating tensions successful the Middle East. This resulted successful rising vigor prices and ostentation expectations, ending a three-quarter winning streak for the S&P 500 index. The steadfast believes determination volition beryllium a renewed absorption connected solutions similar renewables that heighten vigor information and efficiency, on with investments successful amended grids, powerfulness storage, and technologies to trim vigor intensity. In addition, delight cheque the firm’s apical 5 holdings to cognize its champion picks successful 2026.

In its first-quarter 2026 capitalist letter, Impax US Sustainable Economy Fund highlighted QUALCOMM Incorporated (NASDAQ:QCOM). QUALCOMM Incorporated (NASDAQ:QCOM) is simply a semiconductor and connection exertion institution focusing connected the improvement and commercialization of foundational technologies for the wireless industry. On May 28, 2026, QUALCOMM Incorporated (NASDAQ:QCOM) closed astatine $243.29 per share. One-month instrumentality of QUALCOMM Incorporated (NASDAQ:QCOM) was 37.44%, and its shares gained 67.56% implicit the past 52 weeks. QUALCOMM Incorporated (NASDAQ:QCOM) has a marketplace capitalization of $256.43 billion.

Impax US Sustainable Economy Fund stated the pursuing regarding QUALCOMM Incorporated (NASDAQ:QCOM) successful its Q1 2026 capitalist letter:

"QUALCOMM Incorporated (NASDAQ:QCOM) (Information Technology, Semiconductors) is held owed to its best-in-class Corporate Resilience score, scoring highly from Environment & Social factors arsenic good arsenic Governance. The banal is besides good positioned from a sustainability accidental position with precocious scores connected Digital Infrastructure and Resource Efficiency. Underperformance was driven by a crisp sell-off aft grounds fiscal Q1 results were overshadowed by profoundly disappointing guardant guidance, arsenic AI information halfway request has created industry-wide representation shortages. Apple's accelerating improvement of in-house modem chips threatens Qualcomm's largest lawsuit relationship, and escalating US-China commercialized tensions make meaningful uncertainty astir its important China gross exposure."

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