Why Qualcomm Stock Fell 11% in March
Shares of Qualcomm (NASDAQ: QCOM) dropped 10.8% in March due to tech stock weakness and concerns about its competitive strength. The company announced a large increase to its dividend, which is now up to a 2% yield. But that wasn't enough to overcome tough news coming out of an important trade show in the mobile device industry.
There wasn't much news about Qualcomm last month. The semiconductor stock struggled in early March along with the rest of the market. Investors were concerned that the conflict in Ukraine could lead to widespread geopolitical instability. While Qualcomm derives less than 1% of its revenue from Russia and Ukraine, it was dragged down along with other tech stocks.
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Source Fool.com
