On July 16, Qualcomm fell 3.01% in regular trading, trading at $170.265/share, with turnover of $228 million, declining in tandem with broad semiconductor sector pressure.

On the news front, the semiconductor sector sold off broadly, with Micron Technology down 4.99%, Intel down 3.92%, AMD down 3.56%, TSMC down 2.92%, and NVIDIA down 2.32%, dragging Qualcomm lower alongside peers. Additionally, Citi previously placed Qualcomm on its 30-day downside catalyst watch list, citing weak smartphone sales growth as a downside risk — a bearish outlook that continues to weigh on sentiment. While HSBC recently raised its Qualcomm price target to $180 from $155, it maintained a Hold rating. With the company scheduled to report fiscal Q3 earnings on July 29, near-term uncertainty has intensified, with consensus EPS expected at $1.53.

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