Published on 24 Nov 2022 on Market Watch
Qualcomm Inc. stock underperforms Wednesday when compared to competitors despite daily gains
Shares of Qualcomm Inc. advanced 1.21% to $125.15 Wednesday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index rising 0.59% to 4,027.26 and the Dow Jones Industrial Average rising 0.28% to 34,194.06. This was the stock's second consecutive day of gains. Qualcomm Inc. closed $68.43 below its 52-week high ($193.58), which the company achieved on January 5th.
The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Alphabet Inc. Cl A rose 1.45% to $98.46, NVIDIA Corp. rose 3.00% to $165.19, and Cisco Systems Inc. rose 0.39% to $48.57. Trading volume (5.5 M) remained 3.2 million below its 50-day average volume of 8.7 M.