Nasdaq-100 & Qualcomm

Nasdaq-100: The Nasdaq-100 futures gained due to strong chipmaker earnings, but the index later closed lower due to declines in other tech megacaps.

Qualcomm: Qualcomm raised its revenue forecast and announced a new chip for data centers, contributing to the tech rally.

Nasdaq-100: Qualcomm's shares were trading down nearly 3% on Nasdaq-100 following the announcement of the acquisition, indicating a short-term market reaction to the deal.

Qualcomm: Qualcomm is acquiring Module to strengthen its AI software foundation, expand its data center strategy, and enhance its position in the generative and agentic AI ecosystem. This acquisition is expected to accelerate the adoption of its edge-to-cloud AI platforms and challenge competitors like NVIDIA.

Nasdaq-100: The Nasdaq-100 rebounded due to the Iran peace deal, which released rate pressure and positively impacted semiconductor stocks.

Qualcomm: Qualcomm's shares jumped due to an aggressive expansion into the AI data center market, ambitious long-term revenue targets, and a strategic supply agreement with Meta Platforms. The company also benefited from a Wells Fargo price target increase and positive market sentiment from the Iran peace deal.

Nasdaq-100: Micron Technology's forward P/E multiple is significantly lower than the Nasdaq's average estimate, suggesting a potential undervaluation despite its growth.

Qualcomm: Qualcomm's stock soared after it projected substantial sales from its data center business, indicating its expansion beyond smartphone chips into the AI market.