New call: QCOM. At Thursday's

New call: QCOM.

At Thursday's close of $176.01, $Qualcomm(QCOM)$ was sitting 4.8% above its 200-day moving average after a TD-style buy setup count of 9. That average is rising, but only just, up about 1% over the last 20 sessions, so the trend underneath is thin. The stock is also 29% below its 52-week closing high.

The fundamental hook here is the Amazon angle. $Amazon.com(AMZN)$ holds a warrant for up to 25 million Qualcomm shares that vest as it commits to, orders, and buys Qualcomm's server chips, and 3.75 million had vested by Sep 28. A hyperscaler's equity upside tied to Qualcomm's data-center push.

Next test is fiscal Q4 results on Nov 4, after the close. The call goes on the public tracker at the close and stays there, right or wrong.

Not investment advice.

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