On July 17, Qualcomm declined 3.17% in after-hours trading, trading at $164.93/share, with turnover of $6.9645 million, extending intraday losses.

The semiconductor sector continued to face broad selling pressure, with Intel down 3.96%, Micron Technology down 3.28%, Advanced Micro Devices down 3.28%, Taiwan Semiconductor Manufacturing down 2.62%, and NVIDIA down 2.54%, dragging Qualcomm lower in tandem. On the news front, Citi previously placed Qualcomm on its 30-day downside catalyst watch list, citing weak smartphone sales growth as a key downside risk. Additionally, market concerns have intensified over major handset manufacturers accelerating their transition to in-house connectivity solutions, posing a headwind to Qualcomm's long-term chip supply and licensing revenue streams.

With Qualcomm's fiscal Q3 earnings scheduled for July 29 — with consensus EPS at $1.53 — near-term uncertainty has increased, intensifying the bull-bear tug of war. HSBC recently raised its target price to $180 while maintaining a Hold rating, reflecting a cautious stance heading into the report.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)