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Qualcomm Inc. (NASDAQ:QCOM) stock traded about 1% higher Tuesday, outperforming the broader market despite weakness in technology stocks.
The Nasdaq Composite fell 0.75%, while the S&P 500 declined 0.23%. The technology sector dropped 0.92%.
Qualcomm's gains stood out as investors remained cautious about technology stocks.
Separately, Qualcomm on Monday unveiled new AI-powered broadband technologies ahead of Network X 2026, expanding its offerings across fiber, Wi-Fi 8, fixed wireless and network infrastructure.
The chipmaker is working with gFiber, formerly Google Fiber, and Gemtek on an AI-powered Wi-Fi 8 gateway for gFiber's 20 Gig broadband service.
Powered by Qualcomm's Dragonwing NPro A8 Elite platform, the device supports on-device AI features such as voice-controlled parental controls, guest access and network diagnostics.
Existing gFiber 20 Gig customers will receive the gateway first after certification. The device is also designed to support future 50 Gig services, with a residential trial planned for spring 2027.
Separately, Qualcomm introduced its Dragonwing Security and Management framework, new wireless infrastructure platforms and the Dragonwing FWA Gen 6 Elite platform.
The launches highlight Qualcomm's efforts to expand its AI and connectivity business beyond smartphones into broadband infrastructure and intelligent networking.
Qualcomm shares traded 4.2% above their 200-day simple moving average (SMA) of $169.36. The 50-day SMA also remained above the 200-day SMA, maintaining a bullish golden cross pattern.
However, the stock traded 4.6% below its 20-day SMA of $185.05 and about 5% below its 100-day SMA of $185.82.
These levels suggest Qualcomm's longer-term trend remains positive, although the stock faces near-term resistance.
The relative strength index (RSI) stood at 46.68, indicating neutral momentum.
The RSI reached overbought territory in May and oversold levels in July. The stock then recorded a swing low in August and a swing high in September.
Key resistance stands at $206, while support is near $156.
Qualcomm is scheduled to report its next quarterly results Nov. 4, 2026.
Analysts expect earnings of $2.16 per share, compared with $3 a year earlier. Revenue is projected at $10.12 billion, down from $11.27 billion.
The stock trades at a price-to-earnings ratio of 19.9.
Qualcomm carries a Hold consensus rating, with an average analyst price forecast of $196.95. Recent analyst actions include:
Qualcomm's MarketDash Edge scores highlight strong quality and momentum, while growth and valuation scores remain more moderate.
Overall, Qualcomm's quality and momentum scores suggest a stronger fundamental and price-performance profile than its growth and valuation scores.
Qualcomm has exposure through several exchange-traded funds, including the Tema Global Royalties ETF (NASDAQ:ROYA), with a 5.25% weighting; the First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL), with a 7.27% weighting; and the VanEck Fabless Semiconductor ETF (NASDAQ:SMHX), with a 4.99% weighting.
Fund inflows and outflows can influence demand for Qualcomm shares as ETF managers adjust their holdings.
Qualcomm shares gained 1.07% to $176.30 at the time of publication Tuesday, according to market data.
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