Why Qualcomm Stock Tumbled on Thursday

Sturdy semiconductor company Qualcomm (NASDAQ: QCOM) was looking a touch shaky on the stock exchange on Thursday. After something of a rally coinciding with its annual Snapdragon Summit, it fell by more than 2%. Contributing factors included profit-taking, concerns about newly announced chips, and an analyst recommendation downgrade. The summit concluded on Thursday, with Qualcomm's major development being the unveiling of those chips, the Snapdragon X2 line. This is the second generation of the X series launched to great fanfare last year, not least because it plunged the company directly into the PC market. Image source: Getty Images.Continue reading