After a rocky run in the previous month, Qualcomm shares are back on track and recording steady growth in the US stock market in recent days. The stock closed above $174 in the after-hours of Thursday on NASDAQ. This is a good sign for the stock before the beginning of 2026, Marketbeat reported.
How much did Qualcomm's stock price fall last month?
Qualcomm's share price went up to a record high of $182.18 on November 6, which went down to $171.48 on the same day. The share prices started to recover after that, recording $176.67 on November 13, after which they went into free fall. On November 21, Qualcomm's share prices tanked to $159.59, after which the steady recovery began.
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Qualcomm's shares are on steady rise
Qualcomm shares have been rising steadily despite heavy selling throughout the month of November. Qualcomm has been on this steady track since April, which saw a disruption in November. Each major pullback has formed a higher low, reflecting consistent buying interest and strong accumulation. The latest bounce off the $160 zone reinforces this trend.
The significance of the $160 zone is that market bulls are now aggressively defending it as a have-to-maintain floor. This contributed majorly to the bounce back of Qualcomm's share prices, which have yet again crossed $170.
What the future holds for Qualcomm
The recent boost in Qualcomm's share prices shows that the low point was a buying opportunity, and the bullish run will continue for quite some time, says Marketbeat.
Several trading firms like Susquehanna and Rosenblatt are setting target prices of $210-225 for Qualcomm. The company's recent drive towards automotives and AI-related hardware has been a key reason behind the growth. Innovations added with strong fundamentals have been crucial in the company's bounce back.
Quarterly earnings also show that there is no dearth in Qualcomm's income throughout the years, and the company has successfully been able to shed its slow-growing reputation, turning into a dynamic growth engine, Marketbeat says.
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