Shares of Qualcomm Inc. (NASDAQ: QCOM) were trading just below $140 early in the week, down approximately 25% from their January high. While they’d been under pressure since before Christmas, much of the recent decline followed weak forward guidance in the company’s latest earnings report.
That said, the tech giant has posted modest gains since its early-February low, but the move looks more like consolidation than the start of a major comeback. For many investors, Qualcomm still carries the stigma of being overly dependent on smartphones at a time when the broader semiconductor industry is being defined by data center artificial intelligence demand.
