Shares of Qualcomm Inc. (NASDAQ: QCOM) were down another 2% early on Tuesday, Nov. 18, sliding below $163 as the broader market sell-off began to gain momentum. The move meant they had now erased all post-earnings gains from last month’s breakout, leaving the stock down more than 20% from its highs. Despite repeatedly beating expectations and expanding into AI and automotive markets, Qualcomm’s chart looks fragile once again.
For long-term investors, it’s a familiar story: strong fundamentals are overshadowed by a lack of market conviction. The bulls still believe this is just a pullback in a larger uptrend, while the bears see yet another false start—who’s going to win out? Let’s jump in and take a look.
