JP Morgan cuts Apple and Qualcomm from its "best companies" list

Analysts at JPMorgan said Friday that slowing demand for smartphones could negatively impact Apple and Qualcomm's stock gains. Excluding those companies from the list is also due to rising costs amid the conflict in Ukraine.

Apple is already planning to cut production of iPhones and AirPods due to slowing demand, the Nikkei newspaper reported on Monday. As for #QCOM, processor production is becoming difficult due to possible shortages of key metals.