Shares of Qualcomm Inc. (QCOM) plunged 5.2% during intraday trading on Wednesday, as the semiconductor giant was caught in a broader sell-off in the technology sector.
The decline in Qualcomm's stock price was part of a wider downturn in semiconductor and technology stocks, which was partly attributed to negative investor reactions to earnings reports from tech giants like Google (GOOG, GOOGL) and Tesla (TSLA).
Other major semiconductor companies, such as Broadcom (AVGO) and Nvidia (NVDA), also experienced significant declines, with each falling 3% or more during the trading session.
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