Qualcomm Stock Turns South: 3 Entry Signals to Watch For

Core Viewpoint - Qualcomm Inc. has been underperforming in the semiconductor sector, with a recent decline of up to 10% in stock price, despite a generally positive market trend [1][2]. Group 1: Stock Performance - Qualcomm's current stock price is $148.29, with a 52-week range between $120.80 and $230.63, and a dividend yield of 2.40% [2]. - The stock has shown a sideways drift, failing to gain momentum compared to the broader market [2]. - Analysts have a 12-month price forecast for Qualcomm at $192.08, indicating a potential upside of 29.89% from the current price [9]. Group 2: Technical Signals - A key technical level to watch is $156; a close above this level with volume could signal a near-term breakout [4]. - The Moving Average Convergence Divergence (MACD) indicator recently turned negative, which is a concern for investors, but a bullish crossover could indicate a shift in momentum [6][7]. - The lack of recent bullish analyst updates contrasts with the positive sentiment surrounding other tech stocks, suggesting a potential opportunity for Qualcomm if analyst sentiment improves [10][11]. Group 3: Analyst Sentiment - Recent analyst commentary on Qualcomm has been subdued, with most updates being neutral and lacking significant bullish sentiment [8][10]. - A fresh buy rating from a top-tier firm could help reset the narrative around Qualcomm, especially if it highlights the company's strengths in AI and market position [11][12]. - The current hold rating among analysts indicates a cautious approach, with some analysts favoring other stocks over Qualcomm [13].