On August 4, Qualcomm rose 3.49% in regular trading, trading at approximately $158.07/share, with turnover of $2.61 billion. The rebound was driven by CEO commentary highlighting the automotive business trajectory alongside a broad semiconductor sector rally.

On the news front, Qualcomm CEO disclosed during an earnings call that the company's automotive business annualized sales are expected to reach approximately $7 billion by the end of the current fiscal year. The third fiscal quarter automotive electronics revenue hit a record $1.59 billion, surging 61% year-over-year and marking 23 consecutive quarters of double-digit growth. The semiconductor sector rallied broadly on the same day, with Marvell Technology up 11.75%, Intel up 6.73%, and Micron Technology up 5.8%, providing additional tailwinds for Qualcomm.

The move follows a 3.15% decline on August 3 triggered by an SEC filing revealing approximately 17.83 million shares available for resale, combined with lingering pressure from weak Q4 profit guidance and a 25% year-over-year decline in Q3 net income to $2 billion.

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