🔴 QCOM is trading 3% down today as investors cool on its AI data-center rally

QCOM is trading 2.95% down now at $198.11 as investors cool on its recent AI- and data-center-driven surge.

• The stock has dropped sharply over the past week after a steep run-up fueled by excitement about Qualcomm’s June 24 Investor Day and custom AI data-center chips.
• Market participants are engaging in profit taking and a reassessment of valuation following a broader selloff across the semiconductor and AI sectors.