Downgrade pressure
A fresh analyst downgrade adds to lingering customer-concentration worries, keeping the stock drifting lower with calm, orderly selling alongside a modestly weaker semiconductor tape.
Sources: https://seekingalpha.com/article/qualcomm-downgrading-for-the-first-time-in-over-a-year, https://www.newsquawk.com/headlines/pre-market-taiwan-and-singapore-stocks-ne
Sources
Ezbrisk weighs each event against the market reaction and publishes a verdict with an overreaction reading. How the methodology works