Qualcomm Plunges 13% as RSI Oversold and Analysts Target $200
Qualcomm shares plunged 13% after its fiscal Q2 earnings, then rallied four consecutive days. The stock’s RSI dipped below 30 before rebounding and analysts set price targets up to $200, implying over 40% upside.
1. Sharp Earnings-Driven Sell-Off and Technical Rebound
Following fiscal Q2 results, Qualcomm shares plummeted as much as 13%, marking one of its weakest year-to-date starts, before staging four consecutive daily gains. The RSI fell below 30—the lowest in nearly a year—then turned higher, signaling reduced near-term downside risk.
2. Analysts Raise Price Targets Up to $200
Major firms including Rosenblatt Securities, JPMorgan and Piper Sandler upgraded Qualcomm to Buy, lifting price targets as high as $200 and implying over 40% upside from current levels, reflecting growing confidence in the company’s valuation gap.
3. Risks Remain in Guidance and Handset Exposure
Despite the technical and target-driven optimism, guidance missed expectations, visibility into future revenue remains constrained, and structural challenges tied to handset market exposure could sustain volatility through the rest of the quarter.