US Stock Movement | Qualcomm (QCOM.US) rises over 2%, plans to increase prices starting from September to improve short-term gross margin pressure

According to Golden Ten Data, on Monday, Qualcomm (QCOM.US) rose over 2% to $168.48. In the news, Qualcomm previously announced it will raise product prices starting from September 1 to address pressure from rising supply chain costs. Qualcomm’s CEO, Ammon, stated that the main purpose of this price increase is to restore the company’s gross margin to historical normal levels. He emphasized that Qualcomm is simply passing on the significant increase in costs to downstream clients. Currently, the pace of cost increases is faster than adjustments in product prices, putting the company’s short-term gross margin under pressure. Price increases will be the key measure for Qualcomm to solve this issue.