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SpaceX has chosen Qualcomm to provide Dragonwing infrastructure solutions for Starlink Mobile’s nationwide terrestrial 5G rollout in the U.S. The stock is up 1.5% on the day at $164.46.
SpaceX has selected Qualcomm Dragonwing Cellular Infrastructure solutions to support Starlink Mobile’s terrestrial 5G network across the U.S. The announcement came from Qualcomm itself. Deployment is slated to begin in 2027 and will involve tens of thousands of cell sites utilizing the company's Dragonwing QRU100 and QDU100 radio and processing units alongside commercial-grade software, PCMAG reported.
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Qualcomm stock opened the session with a gap up from $161.9 to $164.21. The daily structure remains bearish, as shares continue to trade below the MA-20, MA-50, and MA-200. RSI reading at 39.3 is approaching oversold territory, indicating the recent decline may be getting stretched. The nearest support level is the weekly low at $160.38, providing a potential floor for the price.
To see whether the recent revenue development is being reflected in price, traders should watch for a close above $169.54 to indicate that buyers are willing to follow through. Shares jumped higher at the open, moving from $161.9 up to $164.21. Still, despite a sharp move lower over the past week without a sustained trend, downside probability stands at 77% versus 23% for upside over the next five trading days, with an expected range between $153.2 and $175.71. A drop below $160.38 would show the move is being faded, while the longer-term picture on the weekly chart stays firmly negative.
Previously it was reported that analysts saw continued downside risks for Qualcomm as the stock faced persistent technical resistance within a negative longer-term trend. The new SpaceX partnership adds a significant business development, but until shares can sustain a move above immediate resistance, technical headwinds remain the main scenario to watch.