Over the past two weeks, Qualcomm’s share price declined by approximately 15% as investor concerns grew over the company’s positioning in the AI transformation. During this sell-off, the relative strength index (RSI) fell below the 30 level, entering oversold territory for the first time since April 2025. At that prior signal, the stock went on to rally roughly 70% over the following six months. In recent sessions, the RSI has bounced back above 30, suggesting technical stabilization and offering a historical precedent for a strong reversal.

With the company set to report quarterly results in early February, analysts highlight that expectations may be muted, potentially allowing Qualcomm to beat consensus forecasts. Beyond semiconductors for smartphones, Qualcomm has been ramping its personal AI initiatives across IoT devices and edge-computing platforms, securing new design wins with leading automakers and industrial OEMs. Several research firms note that the recent pullback could be overdone, emphasizing Qualcomm’s expanding product roadmap in AI accelerators and its growing patent licensing revenue as key drivers heading into the print.