$QCOM #QCOM No More Wintel !"#Qualcomm: Congress Wealth Management LLC DE boosts its position! 📈🔍 Big moves in the latest quarter—who else is bullish on QCOM? 🚀💼
QCI trade ideas
Qualcomm Shares Rises 4.24% On NVIDIA's Earnings BeatQualcomm shares ( NASDAQ:QCOM ) surged by 4.31% following NVIDIA's impressive earnings report, boosting investor confidence and causing a ripple effect on $QCOM. The semiconductor industry experienced a surge as investors reacted positively to NVIDIA's robust financial performance. NVIDIA's earnings report, which beat expectations with adjusted earnings per share of $6.12 and revenue of $26 billion exceeding the estimated $24.6 billion, acted as a significant catalyst for semiconductor stocks.
Qualcomm ( NASDAQ:QCOM ), being a key player in the semiconductor market, benefited from the positive sentiment generated by NVIDIA's stellar results. The market's response to NVIDIA's earnings highlights the strength and growth potential of the semiconductor sector. As NVIDIA continues to demonstrate strong performance, investors should be optimistic about the prospects for semiconductor companies like Qualcomm ( NASDAQ:QCOM ). Factors such as technological advancements and market demand will continue to influence Qualcomm's performance and the semiconductor sector as a whole.
Technical Outlook
Technical indicators like the Relative Strength Index (RSI) which sits at 81.25 shows ( NASDAQ:QCOM ) stock is in an overbought region meaning an impending trend reversal is on the horizon.
QCOM May 2, 2024: A New HighA new 52-week high after earnings, while the overall market is still in correction, and the main indices NASDAQ:NDX , SP:SPX are all still below their own MA-20, MA-50
This is a classical buy point for trend-following traders.
With the stop loss below the low of the current session.
$QCOM Is Qualcomm the Next Big AI Chip Leader? PT 200+NASDAQ:QCOM designs all premium mobile chips. Notably, Qualcomm’s current valuation hasn't fully caught up with the AI hype.
Qualcomm continues to lead in the AI chip sector, shining in new smartphones and helping devices manage complex AI algorithms efficiently. The market's response to the S24 proves the allure of AI!
QCOM QUALCOMM Incorporated Options Ahead of EarningsIf you haven`t bought QCOM on this support:
Then analyzing the options chain and the chart patterns of QCOM QUALCOMM Incorporated prior to the earnings report this week,
I would consider purchasing the 170usd strike price Calls with
an expiration date of 2024-5-17,
for a premium of approximately $6.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
QCOM - Following trends through a starburst or radial array setQualcomm is right at a break point of resistance or break through so this is a great place to look at geometry around it's formation. For my work i really enjoy the patterns that seem to recognize radial arrays.
Qualcomm Surges on AI-Powered Smartphone Market RevivalIn a remarkable turn of events, Qualcomm ( NASDAQ:QCOM ), the global leader in smartphone chip manufacturing, has defied expectations with a bullish forecast for the fiscal third quarter, driven by a resurgence in the smartphone market fueled by artificial intelligence innovations.
Riding the AI Wave:
Qualcomm's optimistic outlook stems from the accelerated adoption of smartphones equipped with advanced AI features, breathing new life into the industry. As consumers seek enhanced functionalities and seamless user experiences, Qualcomm ( NASDAQ:QCOM ) stands at the forefront, leveraging AI technology to redefine the smartphone landscape.
Diversification Sparks Growth:
Beyond smartphones, Qualcomm's expansion into new markets such as automotive and wearable devices has bolstered its revenue streams, surpassing Wall Street expectations in the second quarter. The company's foray into selling chips for cars and headphones has proven particularly fruitful, highlighting its agility and adaptability in responding to evolving market trends.
Competitive Landscape:
Despite facing stiff competition from the likes of China's Huawei and Taiwanese rival MediaTek, Qualcomm continues to dominate the smartphone chip market, counting industry giants Apple and Samsung among its loyal clientele. While competitors vie for market share, Qualcomm's strategic positioning and technological prowess set it apart, ensuring sustained growth and resilience amidst challenges.
Navigating Regulatory Hurdles:
Amidst regulatory complexities and geopolitical tensions, Qualcomm remains steadfast in its commitment to compliance and ethical business practices. The company's ongoing negotiations with Huawei underscore its proactive approach to addressing legal and contractual obligations, mitigating potential risks and uncertainties.
AI-Powered Innovation:
Qualcomm's strategic focus on consumer-centric AI applications is poised to revolutionize the way we interact with our devices. With plans to release chips designed to power laptops and enable AI chatbots directly on devices, Qualcomm ( NASDAQ:QCOM ) is poised to capitalize on evolving consumer preferences and drive the next wave of technological innovation.
Financial Outlook:
With a forecast for third-quarter sales and adjusted profit surpassing analyst estimates, Qualcomm's financial resilience and growth trajectory remain robust. Bolstered by strong performance in both its chip and patent-licensing segments, Qualcomm is well-positioned to capitalize on emerging opportunities and deliver sustained value to its shareholders.
Looking Ahead:
As Qualcomm ( NASDAQ:QCOM ) charts its course forward, the company's unwavering focus on innovation, diversification, and strategic partnerships will continue to fuel its ascent in the dynamic technology landscape. With AI as its guiding force, Qualcomm ( NASDAQ:QCOM ) is poised to shape the future of mobile computing and drive transformative change across industries.
QCOM Potential buy setupReasons for bullish bias:
- Entry is at breakout of HH
- DOW theory, SL at last HL
- Divergence is there, but entry is at breakout so let's see
Entry Level(Buy stop): 158.62
Stop Loss Level: 134.44
Buy QualcommShort Term Trading Advice by Naranj Capital
Buy Qualcomm
● Buy Range- 168 - 171
● Target- 179 - 181
● StopLoss- 163
● Potential Return- 5-6%
● Duration- 14-15 Trading Days
QCOM WEEKLY CHARTI mean you keep seeing this chart pattern over and over again. I'm just going through different stocks and this has been the pattern that keeps coming up. And shoutout to JC AND ALL-STAR CHARTS, I learned this pattern from him and his crew. These big bases for the most part have all been residing to the upside.
QCOM March 22, 24: A High Tight Flag Near 52-Week HighAt the close of March 22, 24, NASDAQ:QCOM has been moving 2 weeks in the high tight flag pattern.
A breakout of this flag with high volume confirmation would be a valid buy point.
QCOM - Bullish TrendQCOM stock is in an upward trend, making Higher Highs and Higher Lows on 4H timeframe
Qualcomm (QCOM): Waiting for Long EntryQualcomm (QCOM): NASDAQ:QCOM
For Qualcomm Inc. on the weekly chart, we now assume that after the significant rise during the Dotcom Bubble for Wave (1), and having observed Waves (4) at $101.47, we are approaching the completion of Wave (5) / the first 5-wave cycle towards Wave I. We expect this Wave (5) to be in the range of 50 to 61.8%. This places us at a level of $184 to $203. The maximum for Wave (5) is at $266.5, which is less typical. The more common range is between 50 and 61.8% in the Fibonacci extension. Thus, we anticipate surpassing our all-time high slightly, and specifically, the Wave B of the correction wave (4) before $193.85. Please note that there is a not so small possibility that we have not seen the wave (3) and (4) yet and we are going to surge even higher.
In the short term, we aim to make entry into Qualcomm. We assume that we have completed Wave 3 and will see a downward correction. For the Wave 4, we expect to reach between 38% and a maximum of 50%. The 50% level coincides with the level of Wave 1, so we do not expect to fall below this. The level of Wave 1 is at $140, setting our stop-loss below $140. We anticipate an increase from 50 to 61.8%, and going beyond this would be unlikely.
We are going to wait again before we share our limit order because we want to be sure and see some weakness.
QCOM QQQ GOOG LOSSSpeed Up if needed, Loss a trade on qqq, qcom, and won on google but didn't enter due to news and all time highs
fib retracement buy-zonesHoping to get a shot on these buy-zones.
Around 120 is my first fib retracement zone and will be my first entry when it gets there.
When it hits the second fib retracement zone at around 105 I will buy some more.
Will be a longterm hold, just want to get it at a good price.
QCOMTo make this trade, you will need an offshore account. With earnings having been reported, traders have little to no short term single stock 'event risk' on the horizon. The share is in a gradual upward trend with the structure and signal forming part of the re-emerging momentum category. Considering the analyst ratings since it's recent earnings, a number of institutions have adjusted their price targets with several BUY and OVERWEIGHT ratings. While an ultra short pullback is possible, the structure favors an upward trend. As always, if/when the share approaches the target: bank/take profit, partially scale out, adjust the stop-loss to protect profits. Time stop: 31 July 2024.
TRADING LEVELS:
Entry: 151.00
Target: 175.00
Stop-loss: 138.00
Qualcomm Positions for Growth Amidst Chip Glut ChallengesQualcomm Inc., (NASDAQ: NASDAQ:QCOM ) the global leader in smartphone processors, is charting its course for growth despite facing challenges in the form of a chip glut and sluggish demand for internet-connected appliances. As the company reveals its expectations for a modest recovery in 2024, a closer look at its recent fiscal first-quarter earnings report provides insights into the strategies employed by Qualcomm (NASDAQ: NASDAQ:QCOM ) to navigate the industry-wide inventory drawdown and capitalize on emerging opportunities.
Key Insights from Qualcomm's (NASDAQ: NASDAQ:QCOM ) Fiscal First-Quarter Report:
1. Modest Recovery Projections:
Qualcomm (NASDAQ: NASDAQ:QCOM ) anticipates a modest recovery for the industry in 2024, particularly in smartphone shipments, which are expected to be "flat to up slightly." The company acknowledges the challenges posed by oversupply in its second-largest business – providing chips for connected devices.
2. Industrywide Inventory Drawdown:
CEO Cristiano Amon highlights Qualcomm's commitment to positioning itself for growth while navigating the industrywide inventory drawdown. The company is proactively working to address oversupply issues and capitalize on the potential rebound in phone shipments.
3. Diversification Efforts:
To mitigate dependence on the phone market, Qualcomm (NASDAQ: NASDAQ:QCOM ) is diversifying its portfolio, making strategic forays into automotive and personal computer chips. The fiscal first-quarter results indicate success in these endeavors, with automotive sales rising by 31%.
4. Positive Signs in Handset Revenue:
Despite challenges, Qualcomm (NASDAQ: NASDAQ:QCOM ) reports a 16% increase in revenue from handsets in the last quarter, signaling potential positive momentum in the smartphone market. This comes after a 27% decline in the previous three months, providing some relief to investors.
5. Strategic Partnerships:
Qualcomm (NASDAQ: NASDAQ:QCOM ) announces an extension of its patent licensing agreement with Apple Inc. by two years, now extending until March 2027. Additionally, a new agreement with Samsung Electronics Co. positions Qualcomm processors as the foundation for future Samsung devices.
6. Challenges in Connected Devices Segment:
While smartphone-related revenue shows promise, Qualcomm (NASDAQ: NASDAQ:QCOM ) faces headwinds in the market for internet-connected appliances, with a 32% decline in revenue from chips for such devices. The company is actively addressing this weakness to ensure a more balanced revenue stream.
Conclusion:
As Qualcomm (NASDAQ: NASDAQ:QCOM ) grapples with the aftermath of a chip glut and works towards a recovery in 2024, the company's strategic initiatives, diversification efforts, and positive partnerships position it as a resilient player in the tech industry. While challenges persist in the connected devices segment, Qualcomm's focus on growth, innovation, and adapting to industry dynamics will likely play a pivotal role in shaping its future success. Investors and industry observers will be closely watching Qualcomm's moves in the coming quarters as it navigates the evolving landscape of technology.
QCOM: Bearish Hammer at Resistance on the Weekly TimeframeThere is a Bearish Hammer at weekly Resistance on QCOM with the RSI pushing back down from its second test of the overbought level. This seems like Bearish RSI BAMM that could lead to QCOM coming back into the support range around $120. As a result I'v decided to open Bear Call Spread spreads on QCOM to offset my Bullish AMD Call Spread.
Long entry on the horizonIt will pull back and go higher from there per the usual behavior on breakouts like these.
use a stoploss please.
thanks!
QCOM: Potential BuyPrice struggling to stay inside the trend line, very much possible to see downside correction for a bit. Target 164 USD.
QCOM: Week of Dec 18Looking at QCOM is very important because it has just been straight up.
Semi's such as NVDA, AMD and QCOM are what is propping tech. While SPY had a bearish day on Friday, the continued upside pressure from QCOM, AMD and NVDA salvaged QQQ and its important to pay attention to the strong performers right now if you are an NQ1! or QQQ trader (just generally a NASDAQ trader).
Despite QCOM going straight up, if we look at the breakdown of where it is in relation to Standard Deviation and where the volume accumulation rests, continued upside is actually the expectation here:
We may see some pullback but watch those conditions.
Bias is bullish overall.
Not advice, blah blah blah.
