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Friday's Featured Story 2 Ways to Trade Qualcomm Ahead of November's EarningsWritten by Sam Quirke. Published 10/21/2025. 
Key Points - Qualcomm has held onto its 40% rally, recovering well from early-October weakness.
- However, shares remain stuck below key resistance heading into next month’s earnings report.
- There are two clean options for investors on the sidelines: be brave and buy now for maximum upside, or wait for confirmation before jumping in.
Shares of Qualcomm Inc (NASDAQ: QCOM) closed out Monday's session just above $167, extending a steady recovery that has pushed it back near the upper end of its recent range. The stock is still up about 40% since April, even after a brief 9% pullback earlier this month, and remains one of the more resilient names in the semiconductor space. Much of that resilience has come amid a choppy backdrop for the sector, with capital rotating between AI winners like NVIDIA (NASDAQ: NVDA) and laggards trying to prove their relevance. That resilience hasn't come easily. While many of its bigger chipmaking peers have soared to new highs this year, Qualcomm continues to trade around levels similar to those in 2021. It's a reminder that, despite progress in diversification and AI-driven products, the market has yet to fully reward the company's execution. There are five truths reshaping America's financial future — and ignoring them could be costly. From an overextended government and vanishing savings to AI-driven job displacement and a widening wealth divide, the warning signs are clear. But according to Porter Stansberry, these same forces are also driving one of the largest wealth transfers in history. His new exposé, The Final Displacement, reveals the economic blueprint behind these shifts — and the final step he believes every American must take to protect and grow their wealth before it's too late. Click here to watch The Final Displacement for free With earnings due in the first week of November, investors face a familiar dilemma: does Qualcomm finally have the momentum to break out, or is this rally running on borrowed time? Here's how to think about the setup and two ways to trade it ahead of results. The Setup: Strong, But Unproven Technically, Qualcomm is still holding its uptrend from the spring. Buyers have consistently stepped in on dips, and the ongoing rebound from the market-wide pullback earlier this month has reinforced support around $155. The relative strength index (RSI) did not fully reset from overbought territory in September, but it is now rising from near-oversold levels earlier this month. It currently has a moderately bullish RSI reading of about 55, suggesting bulls are in control and the stock has room to run. That said, Qualcomm has been capped by a critical resistance zone near $180 for more than a year. A decisive break above that level would mark the company's first major breakout in a long time, but Qualcomm has struggled to sustain momentum each time it has approached that price. Fundamentally, there's a lot to like. Beyond smartphones, Qualcomm's leadership has made progress diversifying into connected vehicles, industrial IoT, and low-power edge computing—segments that are growing faster than its legacy handset business and could reduce cyclicality in future earnings. That diversification story could ultimately reshape how investors value the stock. Qualcomm's valuation also remains attractive, with a price-to-earnings (P/E) ratio near 16, a fraction of the multiples peers like NVIDIA command. The company has a consistent track record of topping Wall Street expectations, having beaten earnings and revenue estimates repeatedly over the past two years. Still, sentiment is fragile. Investors haven't forgotten the stock's long stretches of underperformance, even as it has made a solid shift in recent months. Option 1: Buy Now and Bet on Another Beat The bullish approach ahead of next month's earnings is straightforward—lean into Qualcomm's track record of beating expectations and begin building a position now. The company has spent the past year expanding into automotive and IoT markets, which generally offer higher margins and less intense competition. Its acquisition of Arduino also strengthens its foothold in robotics and embedded hardware, adding potential growth drivers. If Qualcomm posts better-than-expected results and provides confident guidance, a push through $180 could follow quickly. The broader market remains risk-on, with tech stocks leading into Q4, and that tailwind supports the bullish case. Option 2: Wait for Confirmation The more cautious approach recognizes that Qualcomm's 40% rally since April may have priced in a lot of optimism. Even with an attractive valuation, this stock has a history of failing to sustain breakouts and win long-term investor conviction. Waiting for confirmation—in the form of a clean move above $180 backed by strong earnings and guidance—helps traders avoid the post-earnings volatility that can follow. If Qualcomm disappoints, or merely meets expectations without bullish guidance, shares could retreat toward the $160 level. Analysts have praised Qualcomm's execution, but there's a growing expectation that the company must demonstrate it can translate innovation into sustained revenue growth. For investors burned by past lack of follow-through, patience may be the smarter choice.
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