Qualcomm's stock plunged 5.01% intraday on Friday, as the semiconductor sector faced broad selling pressure. The decline reflects a combination of profit-taking following the stock's significant gains after its recent Investor Day and a wider downturn in technology stocks.

The selloff was driven by investor concerns about the sustainability of hyperscaler spending on artificial intelligence and uncertainty over who ultimately bears the cost of these massive investments. Additionally, market sentiment was dampened by reports suggesting a potential delay in OpenAI's public debut, which contributed to reduced risk appetite across the tech sector.

Qualcomm's drop also represents a sector-wide rotation, with many chip stocks pulling back as investors question high valuations following a strong quarterly performance. Despite recent positive developments and upbeat AI demand signals from the company, broader market weakness overshadowed these factors during the trading session.