🔴 QCOM is trading 8.1% down today as traders lock in profits and rotate toward Nvidia RTX Spark

Qualcomm is trading 8.1% down at $230.70 as investors lock in profits following last week's sharp AI-fueled surge and rotate capital toward other industry names.

• Pre-market sentiment is under pressure following headlines regarding Nvidia’s new Arm-based RTX Spark PC superchip, which is attracting significant attention within the AI hardware space.
• The downward move comes despite no negative Qualcomm-specific fundamental news emerging overnight, suggesting a broader tactical rotation among AI chip stocks.