Key Highlights

  • QCOM shares fell 7.17% to $187.48 at Monday's close on September 28, 2026, as the Nasdaq Composite lost 0.92%.
  • Qualcomm supplies mobile and connectivity chips used in smartphones and increasingly in automotive and edge-computing markets.
  • Higher long-term yields weigh on technology valuations by lifting the discount rate applied to future earnings.
  • Arm and Intel also finished lower, and the Nasdaq Composite dropped 0.92% to 26,820.38 in the same session.

Qualcomm (NASDAQ:QCOM) closed down 7.17% at $187.48 on Monday, September 28, 2026. The company supplies mobile and connectivity chips used in smartphones and increasingly in automotive and edge-computing markets.

Latest Developments

QCOM shares fell at Monday's close as the semiconductor group came under pressure.

Qualcomm's processors and modems sit at the heart of much of the smartphone market and increasingly of automotive and edge-computing markets.

Financial and Business Position

Qualcomm is a large-cap chip name whose shares often move with the broader semiconductor group and the Nasdaq.

Higher long-term yields weigh on higher-multiple, growth-oriented technology stocks by increasing the discount rate applied to future earnings, and semiconductors, which the market often values on long-dated growth expectations, sit squarely in that category.

Stock-Market Context

All three major US indexes finished lower on Monday, with the S&P 500 down 0.77% at 7,683.69, the Dow Jones Industrial Average down 0.67% at 51,481.51 and the Nasdaq Composite down 0.92% at 26,820.38. The Russell 2000 small-cap index declined 0.69%.

Treasury yields pushed higher, with the 10-year note above 5.2% for a multi-year high, and oil prices rose as US-Iran talks stalled after a rejected Iranian proposal.

Arm (NASDAQ:ARM) and Intel (NASDAQ:INTC) also finished lower, and the Nasdaq Composite dropped 0.92% to 26,820.38.

Smartphone Silicon With the Chip Group

Qualcomm closed Monday lower with the semiconductor group in a weak Nasdaq. Its mobile, automotive and edge exposure keeps it tied to the fortunes of the chip sector.