Qualcomm Stock Has Had a Tough Year, May Have Further To Go

Qualcomm (QCOM) has had a tough 2015. Over the past 8 months, Qualcomm's stock price is down by nearly 25%. 8% of those losses have come in just the past month. The drop comes at a top when most semi-conductor stocks have made gains since Monday's broad market sell-off. Qualcomm has undertaken major efforts to cut overall costs, in part, through continued layoffs. In addition the company recently announced it would expand into other areas for its chips, mainly consumer drones. Bidness Etc. did technical analysis on the company and concluded that while Qualcomm appears to be headed below the intermediate trend line and long term moving averages, the stock will witness a bounce back due to it being oversold. But then, the analysts predict Qualcomm will breach its low of $52.59 and possible hit $50 a share.