On July 6, Qualcomm rose 3.88% in regular trading, trading at $186.77/share, with turnover of $418 million. The rally was driven by Goldman Sachs raising its target price on the stock from $145 to $180, boosting market confidence alongside broader semiconductor sector strength.

The semiconductor industry received multiple positive signals, with the Japan Semiconductor Equipment Association (SEAJ) significantly raising its fiscal year sales forecast and the World Semiconductor Trade Statistics (WSTS) organization projecting robust global semiconductor market growth, collectively lifting chip stocks. Qualcomm has also benefited from its recent investor day announcement of a full-scale push into AI data centers, targeting $40 billion in non-handset revenue by fiscal 2029, which prompted upgrades from Morgan Stanley, UBS, and Barclays. However, Citi simultaneously placed Qualcomm on its 30-day downside catalyst watch list, citing weak smartphone sales growth as a potential headwind.

Within the Semiconductors sector, individual stocks showed broad strength: Advanced Micro Devices up 7.31%, Broadcom up 5.30%, Intel up 3.77%, Micron Technology up 2.59%, NVIDIA up 0.02%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)