Qualcomm's stock plummeted 5.62% during intraday trading on Thursday, extending a sharp decline for the semiconductor giant.
The selloff is part of a broader downturn in the semiconductor sector, driven by cooling momentum in AI-related trading and funds rotating out of high-valuation technology stocks. Accelerating U.S. April inflation data has further dampened investor risk appetite, leading to profit-taking across the chip industry.
Company-specific headwinds also contributed to the negative sentiment. A recent analyst report highlighted uncertainty in Qualcomm's handset business due to memory supply constraints and price increases, which have led to reduced OEM production volumes and channel inventory drawdowns, pressuring forward guidance.
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