Qualcomm posts record single day jump of $6.33 (+6.09%)

Published: May 27 2023, 08:51 GMT+0

Qualcomm posts record single day jump of $6.33 (+6.09%)

The 5G mobile wireless technology developer traded at $110.35 yesterday, after making its biggest single-day jump of $6.33 (6.09%) since Feb 1. Daily trading volume (15.96 million shares) was higher than the current multiday average of 8.90 million.

As market participants brought yesterday's session to a close, S&P 500 built upon its previous close around 4,151.28 to gain 1.3%, before closing the session at 4,205.45. Nasdaq built upon its previous close around 12,700 to gain 2.19%, before closing the session at 12,976. Qualcomm went up yesterday and similar gains were seen throughout the Technology sector (up 0.534%).

Qualcomm disclosed a quarterly dividend of 75 cents per share on Wednesday, January 18th that was paid on Thursday, March 23rd to all shareholders of record up until Thursday, March 2nd. Based on current prices, the company's decision thereby provides Qualcomm investors with an annual dividend yield of 2.72%.

This rally in Qualcomm's share price coincided with other technology stocks as Intel added 5.84% to its value, and traded at $29. Accenture plc Class A (Ireland) gained 4.06%, as it traded at $303.6. Adobe was up 5.95%.

Qualcomm hit a significant low of $103 around 3 days ago, but has since recovered 0.97%. So far this year, it has been doing worse than the Nasdaq by 17.27%. Currently, the wireless technology company has a market capitalization of $122.93 billion with an average daily trading volume of 8.90 million shares. Qualcomm's last revenue report was $9.28 billion with an EPS of $2.15.