Qualcomm trims gains to under 3% after surging over 8%

The rapid reversal from an 8% surge to under 3% signals that the initial bullish momentum was not sustained, likely due to traders locking in quick gains. This volatility suggests the market is still digesting the catalyst behind the move, with the key question being whether the stock can hold above its intraday lows or if further consolidation is ahead. For those watching the chip sector, this intraday swing underscores how fragile sentiment can be after a sharp run-up, making the next few trading sessions critical for gauging whether the rally had genuine legs or was a short-lived spike.