Shares of Qualcomm Inc (NASDAQ: QCOM) closed out Monday’s session just above $167, extending a steady recovery that’s put it back near the upper end of its recent range. The stock is still up about 40% since April, even after a brief 9% pullback earlier this month, and remains one of the more resilient names in the semiconductor space. Much of that resilience has come amid a choppy backdrop for the sector, with capital flowing back and forth between AI winners like NVIDIA (NASDAQ: NVDA) and laggards trying to prove their relevance.
This resilience hasn’t come easy. While many of its bigger chipmaking peers have soared to new highs this year, Qualcomm continues to trade around the same levels it did in 2021. This is a reminder that, despite the progress seen in its diversification and AI-driven products, the market has yet to fully reward the company’s execution.
