Qualcomm Plunges 25% to $190 Then Surges 6% on AI Rally
QCOM•Qualcomm shares plunged 25% from above $250 to about $190 before jumping 6% in Monday’s AI and quantum computing rally. An analyst reiterated a buy rating with a $299 target, citing handset recovery, hyperscaler custom silicon, automotive ADAS, industrial IoT and AI infrastructure growth.
1. Share Price Swing
Shares plunged 25% from over $250 to about $190—its most severe drop in recent months—before a 6% rebound fueled by investor appetite for AI and quantum computing names.
2. Investor Day Outlook
Qualcomm’s upcoming investor day is viewed as a potential catalyst for stability, offering management a platform to detail roadmap updates and growth strategies.
3. Analyst Reaffirmation and Growth Drivers
An analyst maintained a buy rating with a $299 price target, backed by expectations for handset market normalization, hyperscaler custom silicon deals, automotive ADAS integration, industrial IoT expansion and low-power AI chip demand.
