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Qualcomm Stock Momentum Faces A Midweek Stress Test โ€” Apple, Tariffs To Blame?
Benzingaยท 2025-04-30 12:39
Group 1 - Qualcomm Inc. is set to report its second-quarter earnings, with Wall Street expecting an EPS of $2.81 and revenues of $10.65 billion [1][2] - The stock has declined by 11.44% over the past year and 4.40% year-to-date, yet it has outperformed the broader chip sector, which has seen declines of over 15% year-to-date for the iShares Semiconductor ETF and 14% for the VanEck Semiconductor ETF [1][2] - Analysts are particularly focused on the potential impact of renewed Trump-era tariffs and the expected phase-out of Qualcomm's modem chips by Apple Inc. [2] Group 2 - Technical indicators for Qualcomm stock show a mixed picture, with the stock currently at $146.88, indicating slight selling pressure but short-term momentum leaning bullish as it trades above its eight-day and 20-day simple moving averages [3] - Medium- to long-term signals are more cautious, as Qualcomm stock is below its 50-day simple moving average of $151.38 and its 200-day simple moving average of $163.63, indicating resistance and a broader downtrend [4] - The Moving Average Convergence Divergence (MACD) is at a negative 1.61, reinforcing a bearish undertone, while the Relative Strength Index (RSI) at 52.22 suggests a neutral stance [4] Group 3 - The consensus analyst rating for Qualcomm stock is currently a Buy, with a price target of $193.41 per share, indicating a potential upside of 10.39% [6] - Qualcomm stock closed at $146.88, down 0.50% on the trading day prior to the earnings report [6]