Qualcomm's Range Narrows Ahead of Earnings as Bulls Step In

Core Viewpoint - Qualcomm's stock has shown a significant recovery, gaining nearly 15% since early April, indicating a bullish trend in its price action [1][2][12] Group 1: Stock Performance - Qualcomm closed at $143.08, reflecting a 3.13% increase, with a 52-week range between $120.80 and $230.63 [1] - The stock has transitioned from a multi-year low to a series of higher highs and higher lows, demonstrating bullish control [2][12] - The trading range has narrowed, suggesting potential for explosive moves ahead of the upcoming earnings report on April 30 [2] Group 2: Market Sentiment and External Factors - A broader rally in semiconductor stocks has been observed, driven by comments from U.S. Treasury Secretary indicating a potential easing of tensions with China [4] - Qualcomm's business is heavily influenced by macroeconomic shifts, and improving sentiment could benefit the company significantly [5] Group 3: Analyst Insights - UBS anticipates "in-line" earnings results but warns of challenges in guidance due to global macro and tariff headwinds affecting smartphone demand [6] - Concerns have been raised regarding weaker-than-expected iPhone sell-through and mixed Android sell-through, which is critical as Qualcomm derives approximately 75% of its handset revenue from Android devices [7][8] - A recent legal victory over Arm Holdings has provided Qualcomm with legal clarity, potentially unlocking growth opportunities in PCs, automotive, and AI-enabled devices [9] Group 4: Future Outlook - TD Cowen has issued a bullish view on Qualcomm, highlighting its low-power and high-connectivity product portfolio as advantageous for growth in IoT and Automotive sectors [10][11] - The stock forecast from TD Cowen suggests a potential upside of 40.75%, with a target price of $201.21 [10]