🔴 QCOM is trading 7.5% down today on profit-taking after record highs driven by AI optimism

Qualcomm is trading 7.5% down at $230.16 as the stock undergoes a sharp reversal from recent record highs driven by AI optimism.

• Shares recently surged on reports of a major AI chip supply deal with ByteDance and broader enthusiasm for the company's AI and data center roadmap.
• The stock appeared technically extended and vulnerable to profit-taking, despite no negative company-specific news emerging today.