Global inflationary pressures and rising energy prices, driven by the Middle East conflict and Eurozone inflation, could impact consumer spending on electronics and increase manufacturing costs for Qualcomm and its customers.

The strength of the global economy, particularly consumer and enterprise spending on technology, influenced by economic indicators like the US jobs report, directly affects demand for Qualcomm's mobile, IoT, and automotive solutions.

Supply chain disruptions, notably those related to memory and semiconductor components, are currently presenting headwinds for smartphone shipments, directly impacting Qualcomm's core business segment.