When Qualcomm's RSI Reached This Level Before, the Stock Soared 70%

Current Stock Performance: Qualcomm shares are trading around $155, having fallen approximately 15% over the past fortnight due to persistent selling pressure and concerns about missing opportunities in the AI transformation market.

Technical Indicators: The Relative Strength Index (RSI) for Qualcomm dipped below 30, indicating that the stock is extremely oversold, but a recent bounce back above this level suggests potential stabilization and renewed interest from buyers.

Market Sentiment: Despite a downgrade from Mizuhoto to a neutral rating, Qualcomm's stock is still seen as having substantial upside potential, with a refreshed price target of $175 indicating investor confidence in long-term growth.

Investment Outlook: Analysts suggest that the current sell-off may be overdone, and if Qualcomm can reassure investors about its long-term growth story, it could lead to a significant recovery in stock performance.