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Qualcomm outlines $40B non-handset revenue target by fiscal 2029 while raising automotive exit run rate to $7B (NASDAQ:QCOM)

Earnings Call Insights: QUALCOMM Incorporated (QCOM) Q3 fiscal 2026

Management View

  • CEO Cristiano Amon framed the quarter around diversification and Investor Day targets: “We also updated our fiscal 2029 financial targets, which now include more than $24 billion in revenue across automotive and

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Trump seeks prime-time spotlight for election claims, raising concerns

President Trump appeared poised to question the security of U.S. elections with a planned prime-time speech Thursday night, eliciting fears from Democrats and voting rights advocates that he is planning yet another play for federal control over voting in November’s midterms.

The exact reason for the speech has not been disclosed by the White House, with Trump only characterizing it to reporters this week as “really, really big news.” He confirmed it would have to do with “free and fair elections.”

The Washington Post reported, citing sources, that Trump planned to argue that there are vulnerabilities in the nation’s election infrastructure and claim that China had accessed U.S. voter data. The White House declined to confirm any such details Wednesday.

The announcement of the speech set off concerns among the president’s political opponents, as well as elections experts and voting rights advocates, that Trump could again escalate claims that the nation’s voting system is vulnerable to domestic fraud and foreign attacks.

He has previously said that Republicans should “nationalize” election administration, a job that falls to the states under the Constitution, and has pressured his party to tighten federal voting rules.

“We don’t know anything about what he might say … or what he might try to do with his very limited powers, as the president, over elections,” said David Becker, executive director of the nonpartisan Center for Election Innovation and Research. “I expect we’re going to hear a lot of rehashed and debunked claims.”

The president could potentially use new claims to argue that the nation is facing an emergency in upcoming elections that necessitates further federal intervention into voting, Rep. Joseph Morelle of New York, the ranking Democrat on the House Administration Committee, which has oversight of elections, said in an interview with The Times.

“This is going to be the rationale for declaring a national emergency,” Morelle said. “It’s transparent that he is creating the emergency and he’s creating the evidence out of whole cloth to suggest there is an emergency.”

Sen. Alex Padilla (D-Calif.), the top Democrat on the Senate Rules Committee, which oversees federal elections, told The Times on Wednesday that Trump was using a known playbook to “[sow] doubt about the outcome before a single vote has been cast.”

“All signs show that tomorrow’s speech will be more of the same: debunked conspiracy theories offered up not because they’re true, but because chaos and doubt are the only cards he has left to play,” Padilla said.

The speech, which Trump announced on social media Monday, comes four months ahead of midterm elections that will determine whether his party retains legislative control in Washington.

White House spokesperson Karoline Leavitt dismissed news reports about what Trump might say in the 6 p.m. PDT speech as speculation, and said “nobody knows yet what President Trump will ultimately say.”

The address also comes as Trump’s ceasefire with Iran has fallen apart, renewing expectations for increased gas prices, and his approval rating on the economy has steadily dropped. On Tuesday, it also became public that Trump had paid $5.6 million to the writer E. Jean Carroll, as ordered by a jury that in 2023 found Trump liable for sexually abusing and defaming her.

“What we’re going to be talking about Thursday is, it doesn’t get bigger,” Trump told reporters who asked Tuesday about the speech. “Because without free and fair elections you don’t have a country.”

Trump has spread baseless claims of widespread election fraud for years. But his prioritization of his claims about the voting system — even as much of the nation’s attention is on cost-of-living issues — has been on particularly clear display in recent days.

He has aggressively lobbied reluctant Republican senators to pass his voter ID legislation, refusing to sign a bipartisan housing bill over it; he fired all remaining members of the bipartisan U.S. Elections Assistance Commission; and his Justice Department said it would send election monitors to six states.

Since the midterm primaries began, Trump has also sown doubt about election security — chiefly in California, where he suggested Democrats had cheated or attempted to in the gubernatorial and Los Angeles mayoral primaries.

Georgia Democratic Sen. Jon Ossoff, whose state was often at the center of Trump’s 2020 fraud claims, said the president’s speech posed a threat to voting rights.

“I expect him to use whatever he puts out there on Thursday as a pretext, either for some attempted unconstitutional use of federal power to interfere in the election,” Ossoff said Tuesday on MS Now, “or to give his proxies and loyalists in state and local jurisdictions some cover for whatever they might attempt, or to lay the groundwork for challenging the result.”

Any effort to federalize or take over elections would face serious legal obstacles, said Nahal Kazemi, a Chapman University law professor. Although Congress can pass laws regarding election administration, as it did with the Voting Rights Act, the executive branch doesn’t play a role in running elections.

“You run into essentially a brick wall that is the Constitution, which makes very plain that states run elections,” Kazemi said.

When it comes to concerns about foreign interference, experts say there is little evidence of other countries attempting to hack systems or change votes. Instead, foreign actors have largely operated via disinformation campaigns, as the U.S. determined had occurred in the 2016 and 2020 elections.

“Of the information that is available to us now, there’s no reason to be alarmed about the possibility that a foreign adversary is going to take over election systems,” said Kazemi, who has studied foreign election interference.

One of the things that helps make American elections generally secure, she said, is that they are not centralized but are run by thousands of counties. Hacking into so many voting systems would be extraordinarily difficult for a foreign adversary, she said.

Jenny Farrell, executive director of the League of Women Voters of California, said California “takes elections security extremely seriously” and has one of the most secure systems in the country, subject to strict voter verification measures and intense chain of custody and auditing procedures.

Democrats have worked with elections experts in recent months on attempts to assure the public that U.S. elections are safe and secure. They have also tried to counter claims by Trump that mail ballots and voting machines are unreliable.

A slew of 2020 election reviews, including by Trump’s first administration, concluded that Trump lost and Biden won. Election experts say there is no evidence that widespread fraud determined the outcome of the election.

A judge also found that claims pushed by Trump and his attorneys that the company Dominion Voting Systems manipulated votes cast through its machines in favor of Biden were untrue.

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Chile’s birth rate falls to historic low, raising concerns

The average number of children per woman in Chile last year fell to 0.99 live births, a 59.4% decrease from 1993, according to government statistics. File Photo by Alberto Valdes/EPA

SANTIAGO, Chile, June 2 (UPI) — Chile has recorded a historic decline in births, with the birth rate falling 46.9% over the past 32 years and the total fertility rate dropping below one child per woman for the first time, raising concerns about long-term population replacement.

According to the National Statistics Institute, or INE, report “Demographic Overview of Chile,” the number of births declined to 146,446 in 2025 from 275,916 in 1993. The average number of children per woman last year fell to 0.99 live births, a 59.4% decrease from 1993.

At the same time, the share of births to foreign mothers has increased significantly. Between 2017 and 2025, the proportion nearly tripled, rising to 19.7% of live births from 6.9%.

“These are concerning figures. Chile is the most aged country in Latin America, with one of the region’s highest life expectancies at 81.5 years, comparable to Canada,” public health specialist Claudia Rodriguez, head of the Public Health Department at the University of the Andes, told UPI.

“As a result, Chile is beginning to display the demographic characteristics of a developed country without being one, and the country could soon reach a point where deaths outnumber births,” she said.

Sara Parada, director of obstetrics at Andres Bello University, said the decline reflects a combination of social, economic, cultural and institutional changes.

“Women are making reproductive decisions in a more informed environment. Greater female participation in higher education and the labor market has contributed to delaying motherhood,” she told UPI.

She said additional factors include the high cost of raising children, uncertain or unstable employment conditions, and limited support from partners in caregiving responsibilities.

“There has been a significant cultural shift. Motherhood is no longer viewed as an obligatory path for all women, but as an autonomous and informed decision that coexists with other life goals,” Parada said.

“That in itself is not negative. The problem arises when people who do want children do not find the material, labor, family or institutional conditions needed to have them.”

Parada noted that Chile’s situation is not unique and reflects a broader trend across Latin America and the Caribbean.

“Fertility has been steadily declining across the region. According to the Economic Commission for Latin America and the Caribbean, fertility reached 1.8 children per woman in 2024 and has remained below the replacement level of 2.1 children per woman since 2015,” she said.

“In 2024, 76% of countries and territories in the region recorded fertility rates below that threshold.”

She said Costa Rica registered 1.32 children per woman, Uruguay 1.40 and Argentina 1.50.

Uruguay’s birth rate continues to decline. The country recorded about 50,000 births in 2016, but the figure fell to 29,000 within a decade. The National Institute for Educational Evaluation estimates the number of students will decline by 25% by 2045.

“In less than 10 years, Argentina’s birth rate has fallen 40%. The countries facing the most severe fertility crises in the region are Uruguay, followed by Chile and then Argentina,” family specialist Lorena Bolzon told Argentine newspaper La Nacion.

Parada said Chile stands out not only for having one of the region’s lowest fertility rates, but also for the speed of the decline.

Analysts warn that a sustained drop in births could have significant long-term consequences by reducing the future working-age population, potentially affecting labor availability, productivity and economic growth unless accompanied by adaptation policies.

“It also increases the proportion of older adults relative to the active population, placing greater pressure on pension systems, healthcare spending and long-term care services,” Parada said.

She said governments should not focus solely on encouraging births, but instead adopt comprehensive measures that support families, including access to child care, work schedules compatible with family life and financial assistance for raising children.

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Trump enters perilous polling territory, raising questions over base support

Mired in a persistent cost of living crisis and an unpopular war with Iran, President Trump reached a perilous milestone last week, registering an approval rating of 34% in a top-tier poll — a record low less than halfway through his second term.

The results mark one of the sharpest polling collapses of any modern president. The data, from the Economist and YouGov, brings Trump back down to his political nadir, matching a number he hasn’t seen since the immediate aftermath of the Jan. 6 attack five years ago.

It follows on several other surveys published in recent days showing the president entering precarious political territory roughly six months ahead of the midterm elections, raising alarm bells in Republican campaign offices across the country over the party’s prospects in the fall.

It has also led pollsters to question long-standing assumptions about the president’s floor of support, wondering whether it is at risk of giving way.

“It’s harder to get lower, but it’s possible depending on what he does,” said Christopher Wlezien, a political scientist at the University of Texas at Austin. “To get that number down, you are going to have to eat into his core.”

Trump’s base of support remains strong, reinforcing a long-standing theory among pollsters that partisanship now serves as a direct proxy for presidential approval. But softening Republican support on specific policy matters — including top voter priorities, such as the economy — have begun raising questions among experts whether further erosion is possible.

A New York Times poll found his approval at 38%, and a Politico poll recorded a similar erosion, driven by a majority of Americans — including 18% of Trump supporters — stating they are financially worse off than they were before he resumed office.

Roughly 2 out of 3 Americans oppose the war Trump started with Iran. And the coalition that swept him back into office — including a surge in support from Latino, independent and young voters — has effectively disappeared.

While the downward trend looks like a story of a presidency in perpetual trouble, political scientists see a more complicated picture.

“Polarization has raised the floor and lowered the ceiling for approval ratings,” said Brandon Rottinghaus, a professor of political science at the University of Houston. “Dramatic swings are less common because approval ratings are now fixed to partisanship.”

The comparison to George W. Bush, whose numbers famously soared after the Sept. 11, 2001, attacks and cratered into the mid-20s after Hurricane Katrina and the Iraq war, is instructive of how polarization has changed in the Trump era.

Bush governed in a country capable of moving together, in favor or against a president, in response to major events. Americans are no longer swayed in that way when it comes to their views of the president, Rottinghaus argues.

“Approval ratings today are increasingly a measure of who the president is rather than what the president does,” he said.

Trump, in his own way, has seemed to nod at this dynamic. When challenged on his standing with the public, or when a Republican lawmaker breaks with him over a policy issue, he has made the argument that he and the MAGA movement are inseparable. In other words, that opposition to any decision he makes is opposition to the movement itself.

“MAGA is me. MAGA loves everything I do, and I love everything I do,” Trump said in a January interview with NBC News when asked if his base supports long-term military interventions abroad.

Rottinghaus compared the questions about presidential approval as the “same as asking whether you’re Republican or not.”

“So why ask it,” he said.

Gallup, the organization that had tracked presidential approval for eight decades, announced earlier this year that it would stop publishing approval ratings of individual political figures, a shift that underscores how the traditional measure of a politician’s popularity has evolved.

When asked about the change, a Gallup spokesperson told the Washington Post at the time that “the context around these measures has changed.”

“They are now widely produced, aggregated and interpreted, and no longer represent an area where Gallup can make its most distinctive contribution,” the spokesperson added.

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Samsung Electronics’ labor talks break down, raising fears of major strike

Choi Seung-ho, head of Samsung Electronics’ largest labor union, speaks to reporters Wednesday after a hearing on an injunction against a labor strike filed by Samsung at Suwon District Court. Photo by Yonhap

Samsung Electronics Co. and its labor union failed to reach a wage agreement Wednesday, raising concerns over a major strike later this month that could disrupt operations at the world’s largest memory chipmaker.

The breakdown came after two days of government-led mediation talks that had been viewed as a last-ditch effort to avert the strike scheduled for May 21.

Union and management have remained sharply divided over performance-based bonuses tied to the company’s earnings related to artificial intelligence (AI).

The union has demanded performance bonuses equivalent to 15 percent of operating profit, along with the removal of the payout cap and the formal institutionalization of the bonus system.

The management, meanwhile, proposed allocating 10 percent of operating profit to bonuses and offering a one-time special compensation package that it said exceeds industry standards.

“Because the differences between the labor union and management did not narrow, we requested mediation and waited for nearly 12 hours, but the proposal only worsened,” Choi Seung-ho, head of Samsung Electronics’ largest labor union, told reporters after the meeting at the National Labor Relations Commission office in the administrative city of Sejong.

Choi said some 41,000 unionized workers have expressed their intention to take part in the general strike, adding that the number could rise to more than 50,000.

“It is meaningless to wait any longer,” Choi said. “We do not plan to hold an illegal strike. We will proceed in a legitimate way.”

Choi added that the union now will focus on responding to Samsung’s request for an injunction restricting the union’s planned strike.

Later Wednesday, the Suwon District Court concluded a closed-door second hearing attended by about 30 people, including lawyers and officials from both sides.

During the hearing, the union argued that the strike would be carried out lawfully within a limited period and that it had no intention of illegally occupying company facilities, making an injunction unnecessary.

The court is expected to decide by May 20 whether to grant the injunction.

Following the breakdown in talks, Samsung Electronics expressed regret over the suspension of the mediation process, while pledging to continue efforts to engage in dialogue.

“The post-mediation process, which the government worked hard to arrange, unfortunately collapsed after the union declared negotiations broken down,” the company said in a press release. It, however, vowed to continue making sincere efforts until the very end to prevent the worst-case outcome from materializing.

The labor dispute at Samsung Electronics, the world’s largest memory chip maker and South Korea’s most valuable company, has raised concerns that a walkout could disrupt production and upend the semiconductor supply chain, as well as hurt the broader economy overall.

Observers say that if a full-scale strike takes place, losses to the South Korean economy, which is heavily dependent on exports, could exceed 40 trillion won (US$26.8 billion).

South Korea’s exports reached a record $219.9 billion in the first quarter of 2026, driven by strong global demand for AI data centers. Semiconductor exports were a major contributor, surging 139 percent from a year earlier to $78.5 billion as investment in AI-related servers accelerated.

Some observers have speculated that the government could invoke emergency arbitration powers to prevent further escalation.

Under South Korea’s labor laws, the labor minister may order emergency arbitration when industrial action is deemed likely to endanger public welfare or seriously harm the national economy.

If invoked, all strike actions would be prohibited for 30 days while mediation and arbitration procedures are conducted by the commission. Emergency arbitration powers have been exercised only four times in South Korea’s history.

A commission official declined to comment on the possibility, saying, “It is not something we are reviewing.”

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