Why is Qualcomm stock up today?

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Qualcomm surges 3.35% to $202.44 today

Highlights

Qualcomm delivered year-over-year growth with $9.4 billion revenue and $2.45 EPS, driven by strong Snapdragon and AI chip demand.
The company is considering acquiring AI chip startup Tenstorrent with Intel to accelerate its position in AI hardware markets.
Technical indicators signal strong bullish momentum, with the stock likely to trade between $198.12 and $208.92 over the next week.

Earnings growth and acquisition talks drive investor optimism

Qualcomm reported robust quarterly financial results for the fiscal quarter ended March 30, 2025, with revenue reaching approximately $9.4 billion and non-GAAP earnings per share of $2.45, both increasing year over year due to strong demand for Snapdragon and AI-capable chips. The company is actively exploring the acquisition of AI chip startup Tenstorrent in partnership with Intel to enhance its position in AI chip markets. Ongoing institutional investor activity and continued share buybacks and dividend distributions reflect Qualcomm's current capital management initiatives.

Anton Kharitonov, expert at Traders Union, notes that Qualcomm’s price surge is robust, but signals of market exhaustion are appearing. He is concerned about mixed oscillator readings and persistent overbought signals despite strong technicals. Institutional buybacks and strong results support the uptrend, yet Kharitonov cautions that reliance on bullish sentiment heightens correction risk if key support ($198.12) breaks. He warns of volatility amplified by event-driven speculation, as the AI chip acquisition news may already be priced in. "Unless Qualcomm consolidates above current highs, I see risk of a sharp pullback outweighing further gains."

Viktoras Karapetjanc, expert at Traders Union, sees Qualcomm’s recent financials and AI ambitions as positive catalysts for further growth. He notes robust investor demand and confidence, reinforced by share buybacks and strong capital management. The AI chip market exposure is expected to diversify revenue streams, keeping the bullish structure intact. "With institutional support and momentum on our side, I expect QCOM to extend gains and offer multiple upside setups this week."

Jainam Mehta, market strategist, highlights Qualcomm’s breakout above all major moving averages as a continuation signal. He observes short-term oscillator divergence, which could foreshadow tactical pullback entries for nimble traders. The wide forecast range and heightened volatility suggest scenario-based positioning. "Traders should watch for either a squeeze above $208.92 or reversals near dynamic support to play breakout-retest setups."

Momentum signals support rally as oscillators suggest overbought caution

Qualcomm is currently trading well above its 20-day ($183.26), 50-day ($151.55), and 200-day ($159.50) moving averages, confirming strong bullish momentum across short-, medium-, and long-term trends. The nearest dynamic support sits at the Ichimoku Kijun level of $189.48, with resistance likely near the recent highs or at the round $205 level. Momentum remains robust, with the Moving Average Convergence Divergence (MACD) signaling a strong buy and the Average Directional Index (ADX) showing a strong trend. The Relative Strength Index (RSI) indicates continued buying interest, though Stochastic RSI is in oversold territory and the Commodity Channel Index (CCI) is neutral, reflecting some mixed signals regarding exhaustion. Bull/Bear Power (BBP) shows buyers clearly dominating intraday momentum and flags overbought conditions. The daily gain of $6.57 (up 3.35%) comes after an upside gap of about $3.82, placing price near its daily high. Intraday volatility stands at 2.17%. The tone remains strong toward session highs, suggesting persistent upward pressure as momentum indicators largely confirm price action, even with some short-term oscillator divergence.

Earlier, analysts noted that Qualcomm was exhibiting strong bullish momentum supported by product launches and advances in AI technology. The current trading setup not only reinforces this positive outlook but also introduces M&A activity as a new potential catalyst, making a breakout above the $208.92 resistance level a key area for traders to monitor in the days ahead.

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

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