QCOM - Bullish TrendQCOM stock is in an upward trend, making Higher Highs and Higher Lows on 4H timeframe
QCOMD trade ideas
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.
$QCOM: 130 Is Decently StrongQualcomm is showing some incredible resilience off the lows and I'm curious to see if it could lead the semi sector on a potential move up. Were going to look to see if bulls can bid up this area.
QUALCOMM $QCOM Trade IdeaYesterday I entered the NASDAQ:QCOM trade as the price closed above the long term diagonal resistance zone.
I have several short term and medium term timeframe positions on $QCOM.
In the short term the price will likely encounter resistance at the $133 level, if we break that we can see $140.
The price is overbought as the oscillators show, so I will likely exit at the first target ($133) and then re-enter if the stock breaks out further or pulls back to the S/R flip zone.
I am a bit vary of going long on some of the semi conductors for medium term as the charts look fairly extended across that sector, however I am looking for this as short term profits.
The MA's are all sloping up, which shows a short term bullish momentum in price.
Hope this helps the readers, follow me for more trade ideas.
Thank you,
BK
Qualcomm Here are some specific examples of companies that use Qualcomm products:
1. Samsung uses Qualcomm's Snapdragon processors in its Galaxy line of smartphones, including the Galaxy S22, Galaxy Z Flip 4, and Galaxy Z Fold 4.
2. Apple uses Qualcomm's Snapdragon X50 modem in its iPhone 14 lineup.
3. Google uses Qualcomm's Snapdragon 8 Gen 1 processor in its Pixel 6 and Pixel 6 Pro smartphones.
4. LG uses Qualcomm's Snapdragon 888 processor in its Wing smartphone.
5. Huawei uses Qualcomm's Snapdragon 8 Gen 1 processor in its Mate 40 Pro smartphone.
6. Xiaomi uses Qualcomm's Snapdragon 8 Gen 1 processor in its Mi 11 Ultra smartphone.
7. OPPO uses Qualcomm's Snapdragon 8 Gen 1 processor in its Find X5 Pro smartphone.
8. vivo uses Qualcomm's Snapdragon 8 Gen 1 processor in its X80 Pro smartphone.
9. Dell uses Qualcomm's Snapdragon 8cx processor in its Latitude 9320 Chromebook.
10. HP uses Qualcomm's Snapdragon 8cx processor in its Elite x2 G8 tablet.
11. Lenovo uses Qualcomm's Snapdragon 8cx processor in its ThinkPad X12 Detachable tablet.
12. Acer uses Qualcomm's Snapdragon 8cx processor in its Chromebook Spin 713.
13. Asus uses Qualcomm's Snapdragon 8cx processor in its Chromebook Flip CX5.
14. Apple uses Qualcomm's W2 chip in its AirPods Pro wireless earbuds.
15. Sony uses Qualcomm's Q1N chip in its WF-1000XM4 wireless earbuds.
16. Bose uses Qualcomm's Q1N chip in its QuietComfort Earbuds wireless earbuds.
17. Jabra uses Qualcomm's Q1N chip in its Elite 75t wireless earbuds.
18. Skullcandy uses Qualcomm's Q1N chip in its Dime True Wireless Earbuds
Just to name a few. This is to show the scale at which Qualcomm is in tech products we use daily but we have no idea of.
Worth being in our portfolio.
down the hill we goour most kind printing machine that hates seeing us broke. will be adding to my sells monday open buddies.
New support at 100 plusNew support at 100 plus. Accumulation gr8 idea. 100 to 110 consolidation before breakout possible.
$QCOM - Can it break above 200 DMA?NASDAQ:QCOM Looks like it is breaking out of the triangle and hit the 200-Day Moving Average.
I broke above POC resistance with Big volume.
Upside targets:
$120
$124
$128
$140
Downside risk:
$110
It should be noted that the lower gap could fill full or partially before the stock can move up.
Trying to breakout in AMNASDAQ:QCOM is trying to beak the triangle with a break in afterhours after earnings release. Could start a new bullish trend here.
Qualcomm Invests Further In Mobile AI With Chip Qualcomm (QCOM) rolled out a number of key AI announcements today, as the company seeks to cement itself as a major player in mobile chips.
Those announcements include a new compute platform, called Snapdragon X Elite; a new central processing unit chip, called the Qualcomm Oryon CPU; and a new smartphone chip, named the Snapdragon 8 Gen 3.
Though Qualcomm makes chips, it doesn't produce the sought-after GPUs that have become standard for training AI models. That field is dominated by Nvidia (NVDA), though players like Intel (INTC) and AMD (AMD) are racing to catch up amid the GPU shortage.
Qualcomm, throughout the AI boom, has sought to carve out a niche that's linked to mobile and about increasing efficiency. The Snapdragon 8 Gen 3, Qualcomm's mobile platform for Android smartphones, was designed to emphasize generative AI — for example, offering the ability to run large language models, like Meta's (META) Llama 2.
The chip will begin appearing in major Android devices over the next few weeks, and will also bring enhanced gaming and audio features.
The company's Snapdragon X Elite compute platform is designed to give Windows computers an AI boost. Devices with Snapdragon X Elite aren't set to launch until the middle of 2024 — but the platform will feature a new chip that Qualcomm is expected to emphasize moving forward, the Qualcomm Oryon CPU.
According to Qualcomm, the Oryon CPU is faster than Arm-based (ARM) competitors, a group that includes Alphabet's Google (GOOG, GOOGL), Samsung, and TSMC. The chip purportedly matches the peak performances of both Apple's (AAPL) M2 chip and Intel's 13980Hx, with less power.
The product is an implicit shot at AMD and a multilayered stab at Intel, both of which use Arm intellectual property in some of their chips.
Despite the hype around semiconductors, Qualcomm shares have underperformed the S&P 500 this year. The company is wrestling with slowing smartphone sales and an increasingly competitive landscape.
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QCOM
-3.52%
INTC
-4.15%
AMD
-4.43%
AAPL
-1.06%
Qualcomm unveils new PC and smartphone chips focused on AIScroll back up to restore default view.
Alexandra Garfinkle
Alexandra Garfinkle·Senior Reporter
Tue, October 24, 2023 at 10:11 PM GMT+1·3 min read
In this article:
QCOM
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Qualcomm (QCOM) rolled out a number of key AI announcements today, as the company seeks to cement itself as a major player in mobile chips.
Those announcements include a new compute platform, called Snapdragon X Elite; a new central processing unit chip, called the Qualcomm Oryon CPU; and a new smartphone chip, named the Snapdragon 8 Gen 3.
Though Qualcomm makes chips, it doesn't produce the sought-after GPUs that have become standard for training AI models. That field is dominated by Nvidia (NVDA), though players like Intel (INTC) and AMD (AMD) are racing to catch up amid the GPU shortage.
Qualcomm, throughout the AI boom, has sought to carve out a niche that's linked to mobile and about increasing efficiency. The Snapdragon 8 Gen 3, Qualcomm's mobile platform for Android smartphones, was designed to emphasize generative AI — for example, offering the ability to run large language models, like Meta's (META) Llama 2.
An photo provided by Qualcomm.
(Qualcomm)
The chip will begin appearing in major Android devices over the next few weeks, and will also bring enhanced gaming and audio features.
The company's Snapdragon X Elite compute platform is designed to give Windows computers an AI boost. Devices with Snapdragon X Elite aren't set to launch until the middle of 2024 — but the platform will feature a new chip that Qualcomm is expected to emphasize moving forward, the Qualcomm Oryon CPU.
According to Qualcomm, the Oryon CPU is faster than Arm-based (ARM) competitors, a group that includes Alphabet's Google (GOOG, GOOGL), Samsung, and TSMC. The chip purportedly matches the peak performances of both Apple's (AAPL) M2 chip and Intel's 13980Hx, with less power.
The product is an implicit shot at AMD and a multilayered stab at Intel, both of which use Arm intellectual property in some of their chips.
Despite the hype around semiconductors, Qualcomm shares have underperformed the S&P 500 this year. The company is wrestling with slowing smartphone sales and an increasingly competitive landscape.
"Near term, demand for handsets remains extremely depressed amid a severe channel inventory drawdown while orders from China Android manufacturers have yet to snap back," wrote CFRA analyst Angelo Zino, who rates the stock a Hold. "Although we like Qualcomm's potential to diversify over time, we are wary of its position given structural share loss across the Android ecosystem."
Qualcomm's partnership with Apple is also vital to its near-term prospects — and fragile, as Apple has chipmaking ambitions of its own. In September, Qualcomm and Apple re-upped an iPhone deal that sent Qualcomm's shares surging.
"The deal marks a second time that Apple has had to strike a multiyear contract to source thin modems from Qualcomm, in a contractual relationship that Apple sees as unfair but necessary," Argus Research director Jim Kelleher wrote in September. "For Qualcomm, the agreement locks up a key high-volume customer at a time when financial pressures and modest gains in smartphone function and efficiency are limiting demand for new phones."
SYMMETRICAL TRIANGLEEarnings estimated to be on 11-1.
Symmetrical Triangles are neutral until broken.
Support level below triangle with 3 touches. The more touches a support or resistance level has, the stronger the level becomes.
No recommendation
Qcom pennantPennant that could take us back to 122 gap resistance.
I like calls above 111$
110.00$ stop loss
1st target 116
2nd target 122
QCOM intraday outlookJust posting to look at later. Macro trend is bearish. Looking to see if price will continue this short minor pullback as depicted by the arrow. I think we will if we stay within the green range.
