Qualcomm Shares Sink as Smartphone Slowdown Continues

The transcript discusses Qualcomm's market performance, highlighting a significant drop in stock value due to a slowdown in the smartphone market. Qualcomm forecasts a decrease in smartphone handset sales and is taking cost reduction measures, including headcount reduction. The company is also dealing with inventory issues as manufacturers are not placing new orders. Additionally, Qualcomm's modem will be used in the next-generation iPhone, although future collaborations with Apple remain uncertain.

What confirmation did CEO Cristiano Amman provide regarding Qualcomm's modem?

How is Apple approaching the production of its chipsets, according to the text?