Qualcomm's fundamentals remain strong with solid cash flow and dividend yield, but smartphone market saturation and limited data center traction pose near-term headwinds. Technicals show support at $180, but resistance at $200 may cap upside.

Market sentiment is mixed, with AI-driven optimism offset by tariff concerns and RBC's cautious outlook on smartphone growth. The 'Personal AI Boom' narrative could gain traction if adoption accelerates.

Long-term risks include geopolitical tariffs and stagnant smartphone demand, but Qualcomm's AI and automotive segments offer diversification. Data center progress remains a key uncertainty for sustained growth.

RSI at 45 suggests neutral momentum, while MACD shows weakening bullish signals; volume trends indicate cautious institutional activity. Key support at $175 must hold to avoid further downside.