Shares of Qualcomm Inc. QCOM, -2.05% lost 2.05% to $138.24 on Wednesday, on what turned out to be an all-encompassing favorable trading session for the stock market, with the S&P 500 Index SPX, +0.85% rising 0.85% to 4,480.70 and the Dow Jones Industrial Average DJIA, +0.68%, up 0.68% to 34,814.39. This was the second consecutive day of losses for the stock. Qualcomm Inc. closed $29.70 lower than its 52-week high ($167.94), which the company reached on Jan. 20.
The stock underperformed some of its competitors on Wednesday as Alphabet Inc. Cl A GOOGL, +1.32% up 1.32% to $2,888.59, NVIDIA Corp. NVDA, +0.45%, up 0.45% to $223.41, and Cisco Systems Inc. CSCO, -0.54% fell 0.54% to $57.56. Trading volume (11.2 million) surpassed the 50-day average volume of 6.7 million.