Qualcomm Unveils Data Center AI Chips, Meta Becomes CPU Customer

The news that Qualcomm is entering the data center AI chip market and has secured Meta as a customer creates a positive catalyst. However, the stock has fallen 9.2% in the last 24 hours, with an RSI of 47.6 in neutral territory. Although the MACD is negative, it is above the signal line, which could signal weak bullish momentum. In the short term, there is potential for a recovery driven by the news, but trading below the SMA50 and the severity of the recent decline suggest that any upside may be limited.

AMD's stock price fell 3.5% in the last 24 hours, trading below its 20- and 50-day moving averages. The RSI at 46 indicates neutral territory but with downward momentum. The MACD line is below the signal line and in negative territory, confirming short-term weakness. Qualcomm's announcement of a data center AI chip and its acquisition of Meta as a customer may raise concerns about AMD's competitiveness in this market. With technical indicators and news converging, downward pressure is expected to persist in the near term.

The news intensifies competitive pressure on NVIDIA (NVDA) as its main rival Qualcomm secures a major customer like Meta for its data center AI chips. Technical indicators are already weak: although the RSI at 28 is in oversold territory, the MACD is giving a sell signal, and the price is below both the 20-day and 50-day moving averages. The 7.3% drop in the last 24 hours indicates continued selling pressure. A short-term recovery is unlikely, and further declines can be expected.