After a strong finish to 2025, Qualcomm Inc (NASDAQ: QCOM) has found itself firmly on the back foot so far in 2026. Since early January, the stock has been sold aggressively, with shares now hovering around $130 and close to levels last seen during last year’s broader tech pullback.
The latest catalyst for that weakness has been a downgrade that included a street-low price target. While a single analyst call rarely decides a stock's trajectory on its own, this one will have struck a nerve because it reflects rising concerns that investors have been grappling with for months, and it comes after the stock has already slid over 20% in 2025.
