Qualcomm shares have declined 17% over seven consecutive trading sessions, wiping out every advance recorded in 2025 and returning to price levels last seen in early 2020. This sharp downturn occurred in the wake of escalating geopolitical tensions that prompted a broad rotation out of technology names and drove the benchmark S&P 500 to its worst single-session performance since October. Investors who had grown confident in Qualcomm’s improving revenue trajectory and expanding 5G chip portfolio were caught off guard by the severity and speed of the retreat.

The stock’s long-standing uptrend, which had supported a rally from mid-2024 into year-end, was decisively breached during this selloff. Momentum indicators have plunged into oversold territory, with the relative strength index hitting its most extreme low since April of last year. Historically, prior oversold readings of similar magnitude preceded rallies of up to 70% over the following months, but those past recoveries were driven by company-specific catalysts absent in the current environment, underscoring the importance of cautious interpretation of technical signals.

Despite the dramatic pullback, major brokerages including Citigroup, RBC and Mizuho continue to maintain cautious but constructive price targets around 180, suggesting they view recent weakness as overextended. With no new earnings misses or guidance cuts, the consensus view is that selling pressure has been driven more by market-wide risk aversion than by deterioration in Qualcomm’s fundamentals. Investors are now focusing on the 150 level as a potential floor for stabilization, with any sustained consolidation there and signs of momentum divergence viewed as early indicators that downside momentum may be easing.