After reporting dodgy earnings on Feb. 4 after market close, Qualcomm Inc (NASDAQ: QCOM) left investors wondering just what is going wrong. The stock is now trading below $140, down from $185 just a month ago. That represents a steep slide over a very short period, capped by a sharp post-earnings drop on Thursday morning.
Most importantly, Qualcomm has now given up all the gains it fought to build over the past two years. The stock is back at the same levels it was at in 2020, a sobering position for a company that has repeatedly pitched itself as a semiconductor company favorably poised for the AI revolution.
