Qualcomm and AMD slightly different stories
Qualcomm's and AMD's, the two giant chipmakers, share prices have been robust in the past few months, but they now technically look slightly different ...
Share this:
Qualcomm (QCOM): Cautiously Bullish
Source: GAIN Capital, TradingView
On Thursday, Qualcomm (QCOM) lost about 5% in after-hours trading, as Bloomberg reported that Apple has begun building its own cellular modem for its future devices, a move that would replace components from Qualcomm. Though some analysts pointed out that Apple is less likely to be 5G modem-ready by the next iPhone launch in September.
On a daily chart, Qualcomm's (QCOM) technical outlook remains bullish but caution should be taken. It has retreated after reaching the upper boundary of a bullish channel drawn from July, while the relative strength index shows bearish divergence. This suggests that a pull-back may be due, however as long as the bullish channel holds, Qualcomm's uptrend remains intact. The level at $140 may be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $161 and $171 respectively.
Advanced Micro Devices (AMD): Gathering Upside Momentum
Source: GAIN Capital, TradingView
According to video game platform Steam's survey, the share of its customers using AMD CPU processor rose to 26.51% in November, compared with less than 20% in March.
From a technical point of view, Advanced Micro Devices (AMD) is gathering more upside momentum as shown on the daily chart. The previous bearish signal formed on September 2 appears to be faded, as it has formed a double-bottom pattern afterwards and has now broken above a declining trend line. The level at $82.30 might be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $100.00 and $107.20 respectively.
Qualcomm (QCOM): Cautiously Bullish
Source: GAIN Capital, TradingView
On Thursday, Qualcomm (QCOM) lost about 5% in after-hours trading, as Bloomberg reported that Apple has begun building its own cellular modem for its future devices, a move that would replace components from Qualcomm. Though some analysts pointed out that Apple is less likely to be 5G modem-ready by the next iPhone launch in September.
On a daily chart, Qualcomm's (QCOM) technical outlook remains bullish but caution should be taken. It has retreated after reaching the upper boundary of a bullish channel drawn from July, while the relative strength index shows bearish divergence. This suggests that a pull-back may be due, however as long as the bullish channel holds, Qualcomm's uptrend remains intact. The level at $140 may be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $161 and $171 respectively.
Advanced Micro Devices (AMD): Gathering Upside Momentum
Source: GAIN Capital, TradingView
According to video game platform Steam's survey, the share of its customers using AMD CPU processor rose to 26.51% in November, compared with less than 20% in March.
From a technical point of view, Advanced Micro Devices (AMD) is gathering more upside momentum as shown on the daily chart. The previous bearish signal formed on September 2 appears to be faded, as it has formed a double-bottom pattern afterwards and has now broken above a declining trend line. The level at $82.30 might be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $100.00 and $107.20 respectively.
Related tags:
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Nasdaq 100 Forecast: NDX falls as oil jumps and Treasury yields rise
U.S. stocks are pointing to a weaker open on Monday after President Trump rejected an Iranian ceasefire, sending oil prices higher and fuelling inflationary concerns and pushing Treasury yields higher.
S&P 500, Nasdaq, Dow Forecast: Wall Street Split Widens Into Month-End 9 26 2026
Nasdaq strength contrasts with mounting Dow pressure as rising Treasury yields raise the stakes for stocks heading into the monthly close.
Equity Indices Q4, 2026 Outlook: Cracks Begin to Show
There's still an open door for a melt-up in the S&P 500 and Nasdaq but the Dow and Russell 2000 are looking more vulnerable, and until calm hits the Treasuries market there's a higher probability for volatility. The big question is whether that's a next quarter theme or not.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.