QUALCOMM Shares Dive as Handset Revenues Plunge 20%, $150 Level Approaches

QUALCOMM’s stock took a sharp hit, tumbling to $155.68 on July 29 after the company revealed a significant 20% drop in handset revenue for Q3 FY2026. Investors responded with heavy selling, pushing shares below critical technical levels and signaling a bearish outlook. The stock now trades beneath all major moving averages, with market indicators highlighting sustained downside pressure.

Technical Breakdown Highlights Bearish Trend

The daily chart for QUALCOMM reveals a clear breakdown. The stock price closed below the lower Bollinger Band at $158.32, a sign of heightened volatility rather than a smooth downward trend. Key moving averages EMA20 at $176.49, EMA50 at $184.95, and EMA200 at $172.61 remain well above the current price, reinforcing a bearish market structure. The EMA200, which historically acts as support, now functions as resistance, making any near-term recovery challenging.

Momentum indicators confirm the negative sentiment. The Relative Strength Index (RSI) stands at 32.32, nearing oversold territory but not yet low enough to suggest a sharp bounce back. The MACD histogram shows growing divergence in the negative direction, indicating no signs of exhaustion in selling pressure. With the daily MACD at -9.50 versus a signal of -8.47, the bearish momentum appears entrenched.

Revenue Shift Undermines Investor Confidence

QUALCOMM reported a stark 20% slump in handset-related revenue, a core segment of its business. This sharp decline contrasts with a 61% surge in automotive revenue year-over-year, yet it wasn’t enough to offset investor concerns. The handset revenue drop is significant because it directly impacts the company’s earnings forecast, resulting in the stock’s quick erosion.

The wide trading range during the latest session, which saw a high of $164.56 and a low of $155, reflected aggressive selling activity. The breakdown below the immediate support level at $152.27 would likely open the door for the stock to test the $150 mark, a psychologically key threshold for traders and investors alike.

Shareholders are now closely watching whether QUALCOMM can stabilize or if the selling spree will extend further. Until the stock recaptures even one of its key moving averages, technical analysts will remain bearish on its prospects.

This article is for informational purposes only and does not constitute financial advice.