Qualcomm's smartphone chip sales miss expectations, shares fall

News reports that smartphone chip sales fell short of expectations and shares declined; this is a negative catalyst in the short term. However, the price has risen 6.9% in the last 24 hours and the RSI at 59.5 is not in overbought territory, suggesting the decline may be limited. The MACD is in negative territory and above the signal line, indicating weak but recovering momentum. The price is above the SMA20 but just below the SMA50, pointing to a risk of pullback at resistance. Overall, although the news is negative, technical indicators are mixed, so moderate confidence in a downward move is appropriate.

The news is not directly related to GOOGL; Qualcomm's smartphone chip sales falling short of expectations can be read as a mildly negative signal for smartphone demand. However, since GOOGL's main business lines are advertising and cloud, the impact may remain limited. On the technical side, the price is above its 20-day moving average and has risen 3.9% in 24 hours, with RSI at 51 (neutral); MACD is in negative territory but approaching its signal line. This picture increases the likelihood of a sideways, choppy range in the short term. Since the news has a weak direct impact on GOOGL, confidence should be kept low for any directional call.