What’s Going On With Qualcomm Stock On Tuesday?

by | Mar 10, 2026 | General

Qualcomm Inc. (NASDAQ:QCOM) fell in Tuesday’s premarket trading. The broader market also weakened. Nasdaq futures slipped 0.20%. S&P 500 futures shed 0.30%.

Export Rule Fears Drag Chip Stocks Lower

Semiconductor stocks came under pressure last Friday. Reports emerged that the White House is planning stricter rules for foreign buyers purchasing large quantities of U.S. chips.

The news triggered a broad selloff across growth-oriented tech stocks, including chipmakers, according to Benzinga Pro.

Qualcomm, as a major chip supplier with significant overseas revenue, sits squarely in the crosshairs of any tightening export policy.

Memory Crunch Adds To Qualcomm Headwinds

Negative sentiment around QCOM also stems from a supply warning the company flagged recently.

Qualcomm warned that booming AI data center memory demand is diverting supply away from consumer electronics.

That shift is intensifying an already tight memory market and deepening shortages for device-focused chipmakers like Qualcomm.

Technical Analysis

Over the past year, Qualcomm has seen a decline of 10.89% in its stock value.

Currently, the stock is trading 4.7% below its 20-day simple moving average (SMA) and 17.7% below its 100-day SMA, indicating a bearish trend in the short to medium term.

The stock’s position near its 52-week low of $120.80, compared to a high of $205.95, suggests that it is closer to its lower valuation range within the past year.

The Relative Strength Index (RSI) for Qualcomm stands at 39.01, which is considered neutral, indicating that the stock is neither overbought nor oversold.

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the Apr. 29, earnings report.

  • EPS Estimate: $2.30 (Down from $2.85 YoY)
  • Revenue Estimate: $10.57 Billion (Down from $10.84 Billion YoY)
  • Valuation: P/E of 27.8x (Indicates premium valuation)

The stock carries a Buy Rating with an average price target of $180.29.

Recent analyst moves include:

  • Loop Capital: Upgraded to Buy (Target $185.00) (Feb. 24)
  • Wells Fargo: Upgraded to Equal-Weight (Raises Target to $150.00) (Feb. 24)
  • Morgan Stanley: Underweight (Target $132.00) (Feb. 10)

QCOM Price Action: Qualcomm shares were down 3.12% at $133.80 during premarket trading on Tuesday, according to Benzinga Pro data.

Photo by Bandersnatch via Shutterstock