Qualcomm Inc. (NASDAQ:QCOM) stock edged higher Friday in premarket trading as broader risk appetite improved. Nasdaq futures rose 0.61%, while S&P 500 futures gained 0.58%.
Qualcomm Positions For AI-Powered 6G
Separately, Counterpoint Research said Qualcomm is positioning itself to benefit from the shift toward AI-native 6G networks.
Analyst Mohit Agrawal said Qualcomm has taken an early lead in promoting 6G. The company has key technology across devices, edge computing and the cloud as AI and wireless networks increasingly converge.
Counterpoint expects 6G to help scale AI agents and other data-heavy applications. The first commercially deployable 6G specifications under 3GPP Release 21 are due by March 2029.
However, spectrum constraints and carrier spending could slow adoption. Telecom operators are still seeking returns on their 5G investments. Global standards disputes involving Qualcomm Inc. (NASDAQ:QCOM), Huawei, Nokia Corp. (NYSE:NOK) and Ericsson (NASDAQ:ERIC) could also pose a risk.
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Technical Analysis
Qualcomm is showing signs of improving short-term momentum. The stock trades 6.9% above its 20-day simple moving average and 5.2% above its 50-day SMA.
However, shares remain 4% below the 100-day SMA. That suggests the intermediate trend has yet to turn decisively bullish.
The 20-day SMA remains below the 50-day SMA, a bearish short-term signal. However, the 50-day SMA is above the 200-day SMA, preserving the longer-term “golden cross.”
The MACD is also above its signal line, while the histogram is positive. Both indicators suggest improving momentum.
Resistance sits near $196, while support is around $165.
Analyst Outlook
The stock carries a Hold consensus rating with an average price forecast of $196.95.
Piper Sandler initiated coverage Thursday with a Neutral rating and $190 price forecast. RBC Capital maintained Sector Perform on Wednesday and raised its forecast to $180. Rosenblatt maintained a Buy rating and $235 forecast Wednesday.
Benzinga Edge Rankings
Qualcomm scores particularly well on quality in the Benzinga Edge rankings.
Its Quality score stands at 91.87, while Momentum is 67.34. Value and Growth are weaker at 38.02 and 32.6, respectively.
ETF Exposure
Qualcomm has a 5.93% weighting in the First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL). It also accounts for 5.25% of the Tema Global Royalties ETF (NASDAQ:ROYA) and 3.54% of the Horizon Dividend Income ETF (NASDAQ:DIVN).
Price Action
QCOM Stock Price Activity: Qualcomm shares were up 0.35% at $177.50 during premarket trading on Friday, according to Benzinga Pro data.
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