Having been on a downward slide since the first week of January, tech giant Qualcomm Inc (NASDAQ: QCOM) had what can only be described as the week from hell to begin February. Shares fell sharply into and through the company’s fiscal Q2 earnings, at one point dropping as much as 13%. The latest drop made this one of the company’s worst starts to a year ever, and it washed out investor sentiment.
However, with the stock on track to post its first four consecutive days of gains since December, it looks like investors are already thinking the market has overreacted here. If they are, they certainly have a point. Here are two reasons why Qualcomm’s risk/reward profile just got a lot more interesting.
