TradingKey – Qualcomm earnings pressuring revenue hits bulls as stock plunges to a nearly two-month low; technical breakdown poses risk of further 20% decline.

After U.S. market close on November 4 ET, Qualcomm Incorporated (QCOM) reported its fiscal 2026 fourth-quarter (Q4) financial results. Although adjusted revenue and EPS slightly beat Wall Street expectations, core smartphone chip revenue plummeted 26% in a single quarter. Combined with management’s gross margin warning over surging foundry and memory costs, QCOM stock tumbled nearly 9% after hours, breaching the $160 mark to hit a nearly two-month low. Currently, the market is on high alert over whether Qualcomm will repeat a semiconductor cyclical valuation derating, dropping…