SAN DIEGO – Qualcomm Inc. (NASDAQ: QCOM) shares are likely to face continued selling pressure as the market opens on Monday, following a significant drop in the last trading session that showed little sign of letting up.
The semiconductor giant closed the day a
3.98, or 2.51%. The negative sentiment spilled over into post-market activity, where the stock edged down a further 0.033% to $154.67. This persistent downward drift after the closing bell suggests that bearish sentiment may carry over into the new week.
An analysis of the intraday trading chart paints a challenging picture for the stock. After opening at $156.34, Qualcomm failed to sustain any meaningful rally and spent the majority of the day trending lower, closing near its session low of $154.44. Unlike stocks that find late-day buyers, Qualcomm’s chart shows a flat-to-downward trajectory into the close, indicating a lack of investor conviction for a quick rebound.
While the company offers a respectable dividend yield of 2.30% and has a moderate P/E ratio of 15.76, these fundamentals were not enough to stave off the sellers on a day marked by broad-based weakness in the tech sector.
Prediction for Monday: DOWN
Given the significant downward momentum from the previous session, the failure to mount a late-day recovery, and the continued softness in after-hours trading, Qualcomm is likely to open lower or flat and struggle to find footing on Monday. Investors will be watching closely to see if the stock can establish a new support level or if the sell-off will continue.
