On July 7, Qualcomm declined 3.2% in pre-market trading, trading at $181.061/share, with turnover of $7.68 million.

On the news front, Citi placed Qualcomm on its 30-day downside catalyst watch list, citing weak smartphone sales growth. This bearish signal clashed with Goldman Sachs simultaneously raising its target price to $180 from $145, intensifying bull-bear divergence and triggering sustained selling pressure.

Meanwhile, the semiconductor sector faced broad-based weakness, with Micron Technology down 5.43%, AMD down 4.55%, Intel down 4.13%, Broadcom down 3.17%, and NVIDIA down 2.29%, further dragging on Qualcomm. The company recently announced aggressive expansion into AI data centers at its Investor Day, targeting $40 billion in non-handset revenue by fiscal 2029, but near-term concerns over its core smartphone business appear to dominate sentiment. Qualcomm's next earnings report is expected on July 29 after market close, with consensus EPS of $1.53.

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