QCOM - Why 2 Big Nasdaq Stocks Are Missing the Market Rally
The stock market has done well in 2021, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has been a big winner so far this year. Those good signs continued on Thursday morning, with the index up about two-thirds of a percent as of just before noon EST.
However, not every stock was able to join in on the market's gains. Both Qualcomm (NASDAQ: QCOM) and Cognizant Technology Solutions (NASDAQ: CTSH) posted substantial losses as investors assessed their latest financial results. The moves serve as a reminder that even in a healthy market environment, not every stock can end up a winner.
Shares of Qualcomm lost almost 9% by midday on Thursday. The chipmaker and tech innovator's fiscal first-quarter financial report failed to inspire further confidence in the stock, which had already seen a massive run higher over the past year.
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Why 2 Big Nasdaq Stocks Are Missing the Market Rally