● Qualcomm Miss Sends Chip Stocks Tumbling

Qualcomm shares dropped 11.2% in premarket trading after the chipmaker's fourth-quarter smartphone chip forecast missed Wall Street estimates, hurt by weak demand and declining Apple-related revenue. The selloff spread across the sector, though less violently: Nvidia fell 1.5%, Marvell lost 4.5% and Intel slipped 2.3%. The broader move came as chip and data-center stocks extended Wednesday's losses following the Democrats' sweeping midterm win, which investors read as a threat to AI infrastructure buildouts in states like Texas, Georgia and Ohio. Qualcomm's handset business, long its biggest segment, is now bearing the brunt of both a smartphone slowdown and a shifting political landscape for the chips that power them. $QCOM led decliners by a wide margin.