Qualcomm stock slides 3.27% as sellers hold sway below near-term averages

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Qualcomm drops 3.27% today to $199.29

Highlights

Qualcomm acquires Modular for nearly $4 billion, expanding its AI infrastructure presence into enterprise and data centers.
The company lifts its 2029 non-handset revenue goal to $40 billion and secures major AI hardware partnerships with Meta and Microsoft.
QCOM trades within $180.32 to $218.26 under strong bearish momentum, with sellers dominating and downside risk elevated.

AI software acquisition and partnerships drive diversification push amid selloff

Qualcomm announced the acquisition of AI infrastructure software company Modular for nearly $4 billion, bringing advanced software capabilities that immediately extend its reach into the enterprise and data center markets, according to Simplywall. The company also raised its long-term non-handset revenue target for fiscal 2029 to $40 billion, underscoring a continued commitment to diversify beyond smartphone chips. Multi-year partnerships were secured with both Meta Platforms and Microsoft for next-generation AI server hardware deployments, as reported by Blockonomi and Coincentral. Qualcomm’s recent expansion of AI data center offerings, including a partnership with Hugging Face, further widens its platform in AI infrastructure—though price action has remained under broader selling pressure.

Downtrend persists as technical signals turn broadly bearish

Technically, QCOM trades below the MA-20 and MA-50, with the MA-200 offering support. The Ichimoku Kijun on the daily chart stands at $207.18 and acts as immediate resistance. Relative Strength Index (RSI) is at 44.93, indicating a sell zone but not yet oversold, while the Commodity Channel Index (CCI) and Stochastic RSI are neutral. Momentum signals—including the Moving Average Convergence Divergence (MACD), Average Directional Index (ADX), and Awesome Oscillator—are all bearish, with Bull/Bear Power in oversold territory and volatility remaining high intraday.

Downside risk elevated as volatility and technical barriers persist

Over the short term, QCOM is likely to remain volatile, with the expected trading range projected between $180.32 and $218.26. The probability of further declines remains very high, with upside surprises seen as unlikely given the current technical setup. A breakout above $207.18 could prompt short covering, but a drop below $180.32 would likely accelerate selling momentum. The base case envisions QCOM fluctuating within these levels as the market digests recent developments.

Viktoras Karapetjanc, analyst at Traders Union, sees Qualcomm’s recent moves as a strong signal of strategic transformation towards AI and enterprise infrastructure. He believes the Modular acquisition and long-term deals with Meta and Microsoft show Qualcomm’s potential to lead in non-handset growth. Despite soft price action and lingering technical resistance at $207.18, Karapetjanc maintains a constructive outlook as fundamentals improve. In his view, downswings could offer opportunity if the $180.32 support holds. "If institutional interest returns and positive newsflow persists, I believe QCOM can regain momentum and retest key resistance levels."

Previously it was reported that despite Qualcomm's strategic push into AI and data center markets, persistent selling pressure led analysts to anticipate a cautious, range-bound outlook. The latest technical weakness and continued volatility reinforce this view, making it critical for investors to monitor the $207.18 resistance and $180.32 support as signals for any shift in the prevailing trend.

Source of Data: QCOM Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.