Qualcomm (QCOM) Surges 15.2%: Is This an Indication of Further Gains?

Qualcomm (QCOM) shares soared 15.2% in the last trading session to close at $143.59. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.6% loss over the past four weeks.Strength in the automotive platform and higher demand for handsets, along with normalization of channel inventory within the IoT business, are major growth drivers for Qualcomm. The company recently acquired MovianAI, the former generative AI division of VinAI. Th ...