As we head into the final week of June, Qualcomm Inc. (NASDAQ: QCOM) continues to test investors’ patience. Even with a fundamentally solid earnings report in April and a tidy 25% gains since then, the tech giant is failing to ignite the kind of sustained uptrend seen in bigger peers like NVIDIA Corp (NASDAQ: NVDA) or Broadcom Inc (NASDAQ: AVGO). Shares have been drifting downwards for nearly two weeks, though Monday’s 1% gain showed some welcome strength. The uptrend that began in April is technically still intact, but only just.
This lack of momentum has been especially frustrating given Qualcomm’s healthy diversification across handsets, automotive, and the Internet of Things (IoT), not to mention its recent M&A activity.
