Qualcomm Shares Slide From $180 to $140 After Weak Q1 Guidance
Qualcomm shares have tumbled from above $180 in January to just above $140, back to 2020 levels, following weaker Q1 guidance pointing to smartphone-cycle headwinds. Multiple analysts cut ratings to Neutral or Underweight, with price targets dipping into the low $130s, as oversold technicals and bullish $200 targets tempt contrarians.
1. Shares Retreat After Disappointing Guidance
Qualcomm shares fell from over $180 in early January to just above $140, returning to 2020 levels after Q1 revenue guidance came in below expectations, highlighting continued smartphone-cycle headwinds and tempered investor optimism.
2. Analysts Slash Ratings and Price Targets
Sell-side firms including Daiwa Securities, Morgan Stanley and Wells Fargo lowered ratings to Neutral or Underweight, cutting price targets into the low $130s, while cautious outlooks cite muted growth potential beyond the smartphone segment.
3. Technicals Show Oversold Conditions
Technical indicators signal extreme oversold conditions with the RSI reading at rare lows, and the $135 level has held as support through recent trading sessions, suggesting selling pressure may be easing.
4. Contrarian Bulls Highlight 40% Upside
In contrast, bullish analysts at DZ Bank, Argus and Piper Sandler maintain Buy or Overweight ratings with price targets up to $200, implying around 40% upside and attracting contrarian investors seeking a recovery rally.