Qualcomm is trading 4.3% down at $155.84 as part of a sharp sector-wide decline in semiconductor stocks following a disappointing earnings report from SK Hynix and rising concerns about China’s chip competitiveness.
- The broader chips and semiconductors group is facing significant downward pressure, dragging Qualcomm lower despite recent positive company-specific developments.
- Qualcomm recently secured a decade-long deal to supply compute silicon for BMW’s next-generation automated driving and digital cockpit platforms.