Qualcomm shares swing on memory shortage, then SpaceX 5G deal
The gist
Qualcomm stock fell 11.2% on Oct 30 as memory shortages hit the PC market, then rose 4.3% on a SpaceX 5G deal.
The chipmaker's smartphone reliance is the crux as it reports earnings Nov 4.
How it unfolded
- Oct 30, 2026QCOM tumbled 11.2% after Intel's earnings triggered sectorwide worries about memory shortages and slower PC consumer spending. Shares opened at $185.41; market cap stood at $197.99 billion.
- Nov 2, 2026Bernstein SocGen cut its price target to $155 from $165 with a Market Perform rating; the stock traded at $164.79, down 8.3% over the past week, and fell to $162, over 37% below its year-to-date high.
- Nov 3, 2026Shares edged up after Qualcomm reported successful testing of memory read-write operations in its first-generation High Bandwidth Compute silicon; QCOM was last up 0.9% at $163.50, down 4.5% year to date.