On April 28, Qualcomm fell 3.88% intraday, trading at $146.89/share, with trading volume of $416 million. The decline extends the sharp reversal seen in the prior session, when the stock surged as much as 14% pre-market on reports of an OpenAI partnership before closing nearly flat.
On the news front, renowned analyst Ming-Chi Kuo disclosed that OpenAI is collaborating with Qualcomm and MediaTek to co-develop smartphone processors, with Luxshare Precision serving as the exclusive system co-design and manufacturing partner. The project is expected to enter mass production in 2028. Kuo noted that OpenAI aims to fully control both hardware and operating systems to deliver comprehensive AI agent services, with power consumption, memory management, and on-device small model execution as key design considerations. However, the distant timeline and execution uncertainties appear to have tempered initial enthusiasm.
Within the Semiconductor sector, broad weakness prevailed. Among major peers, NVIDIA fell 2.14%, Micron Technology fell 1.81%, AMD fell 3.33%, Intel fell 2.61%, and Broadcom fell 3.53%.
(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.)
