On June 10, Qualcomm fell 3.34% in pre-market trading, trading at $199.05/share, with trading volume of approximately $8.43 million. The stock continued its downward trajectory following the previous session's steep decline.
On the news front, US equities experienced a dramatic reversal overnight, with the Nasdaq swinging from a 1.2% intraday gain to a decline of over 3%, shedding more than 800 points. The Philadelphia Semiconductor Index plunged over 5%, with Qualcomm closing down nearly 9%, Marvell Technology falling over 11%, and Micron Technology dropping over 6%. Additionally, competitive pressure from NVIDIA's new PC processors against Qualcomm's Snapdragon platform has intensified near-term headwinds for the company.
Within the Semiconductors sector where Qualcomm belongs, stocks are broadly lower in pre-market trading. Among individual stocks, Micron Technology down 3.74%, Marvell Technology down 3.11%, Advanced Micro Devices down 2.89%, Intel down 2.31%, NVIDIA down 1.35%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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