After months of false starts and frustrating sideways action, Qualcomm Inc. (NASDAQ: QCOM) gave investors something to get excited about on Monday. Shares of the tech giant jumped 4% in one of their best single-day performances in recent weeks, dramatically outperforming the broader S&P 500, which gained less than 1% on the day.
The move pushed Qualcomm stock to its highest close since March and marked a rare show of strength from a name that’s long felt stuck in neutral. Recently, Qualcomm has had plenty going for it fundamentally, but has struggled to convert that potential into a sustained uptrend.
