Shares of tech giant Qualcomm Inc (NASDAQ: QCOM) have climbed nearly 20% off their April lows, but it still feels like a stock struggling to wake up. They closed just over $146 on Monday, as they continue to drift lower since peaking at $156 in early May. For all the excitement sweeping through tech names lately, Qualcomm seems stuck in neutral.
As we've been writing about, this will be frustrating for investors because, fundamentally, at least, it's doing just fine. Qualcomm's latest earnings beat expectations on both revenue and earnings, and there has been no material change in its long-term story.
