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Business
Sam Quirke

Qualcomm’s 50% Surge: Bubble Territory or Breakout Moment?

Qualcomm MarketBeat

Shares of Qualcomm Incorporated (NASDAQ: QCOM) have surged following their latest earnings report on Wednesday, April 29, pushing the stock into extremely overbought territory on a technical basis.

For context, Qualcomm has gained more than 50% in less than a month. This rally pushed its relative strength index (RSI) as high as 87, its highest level since 2021. By traditional measures, that’s the exact setup where investors would start to get cautious. But Qualcomm isn’t trading on traditional measures right now.

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