[Qualcomm’s stock price plummeted after hours as supply costs eroded profits] On November 5, Qualcomm’s stock price fell sharply in after-hours trading after the company gave a lackluster profit forecast, showing that the world’s largest smartphone processor manufacturer is still struggling to cope with rising component prices. The company said in a statement on Wednesday that it expected earnings per share in the three months to December of $2.15 to $2.35. The midpoint of that forecast range is below analysts' average estimate of $2.32. In issuing its forecast, Qualcomm cited "across-the-board increases" in component and manufacturing costs. Like many chipmakers, the company is facing rising costs due to shortcomings in its own supply chain and a shortage of memory chips - driven in large part by surging demand for data center equipment. In response to this dilemma, Qualcomm is raising the prices of its products. The bleak earnings-per-share forecast overshadowed a strong quarterly revenue forecast, boosted by expansion into new markets. Qualcomm said it expected revenue for the quarter to be between $10.4 billion and $11.2 billion, compared with analysts' estimates of $10.55 billion. After the above news was announced, Qualcomm's stock price fell about 7% in after-hours trading. As of closing, the stock had risen 1.3% this year. The good news is that demand from auto and data center equipment manufacturers is helping to offset the impact of the slowdown in the smartphone market. Mobile phone suppliers remain Qualcomm's biggest customers, but they have scaled back production in the face of soaring prices for memory chips and other components.