Qualcomm's smartphone chip revenue fell 26%, shares dropped 7%

Qualcomm's 26% decline in smartphone chip revenue points to a serious weakening in the company's core business and creates negative pressure on the stock. The price has already fallen 5.5% in 24 hours, dropping below the SMA20 and SMA50; MACD is in negative territory and below the signal line, while RSI at 41 is weak but not in oversold territory. Although part of the 7% post-news drop has been priced in, downside risk remains in the short term. In the 1-3 day outlook, rebound buying may remain limited; the 155 level should be watched as critical support.

Qualcomm's decline could create mild pressure on technology stocks overall. GOOGL, being more independent with its advertising and cloud revenues, has limited direct exposure. Technical indicators show the price is below the 20- and 50-day moving averages, the RSI is around 40, and the MACD is slightly above its signal line; this supports a mild downward bias in the short term.