Till May 12 QCOMM (Nasdaq) stock was performing well by reaching $81. Suddenly, at the close of that day, it fell to $78.405. Then, $76 indicated the bottom price of this week. Now its price at $79.87 that could give some hope for $80. Unfortunately, Q1 2020 earned less income for common stockholders. We may say for sure it is because of the COVID-19 lockdown. Most of Qualcomm’s customers are smart device manufacturers like Samsung, Nokia, Sony, D-link, and others. Their smart devices’ demand fell sharply as people need only essentials to survive the pandemic.
After the pandemic tech companies, most possibly, will restore their stock prices and even gain some growing rates as other opportunities may appear.