[US Stock Market Moves] Qualcomm plummets on September 28: Apple’s self-developed chips, rising US Treasury yields, and corrections from high levels

Qualcomm September 28 Sharp Drop Interpretation

Keywords: Apple in-house development, US Treasury yield rise, high-level pullback

1. On September 18, 2026, Apple launched its new smartphone and continued its in-house chip strategy; Qualcomm expects its modem market share to decline, and the agreement renewed on September 24 covers only patent licensing, not baseband supply, meaning long-term pressure on chip revenue.

2. On September 28, 2026, the 30-year US Treasury yield rose to 5.54%, reaching its highest level since May 2004. The high interest rate environment puts valuation pressure on technology and semiconductor stocks.

3. On September 21, 2026, Qualcomm's stock price surged 9% in a single day; as of September 27, the stock price was close to a recent high. After expectations for the Snapdragon Summit, artificial intelligence, and data centers were priced in, technical pullback pressure emerged.

(Disclaimer: This content is a summary generated by AI technology based on publicly available information and is for reference only. It does not constitute investment advice.)