Qualcomm Stock Dips Nearly 9%, Approaches 52-Week Low

Qualcomm shares dropped sharply by nearly 9% in a single trading session, despite the company reporting better-than-expected second-quarter earnings and maintaining revenue and earnings guidance in line with analyst expectations. The sell-off surprised Wall Street, as Qualcomm showed strength in its core QCT segment, with growth in handset, IoT, and automotive revenues. Analysts pointed to potential concerns regarding moderating handset demand, Apple-related revenue risks, and macroeconomic uncertainty as contributing factors to the decline. Despite the drop, several analysts maintain a positive long-term outlook, citing Qualcomm’s reasonable valuation, solid dividend yield, and growth prospects in 5G and automotive markets. The company’s valuation has become more attractive following the decline, though investors are weighing near-term risks. Market watchers are now looking ahead to Qualcomm’s upcoming analyst day for further updates on its product roadmap and customer mix.