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Why Qualcomm Stock Was Rocking a 4.5% Gain Today

Shares of massive mobile chip designer Qualcomm (NASDAQ: QCOM) were rallying 4.1% today as of 11:30 a.m. ET. Semiconductor stocks in general were hammered in June as evidence began to pile up that the global consumer is tapping the brakes on electronics purchases. Given that Qualcomm derives most of its revenue from smartphones, the news hasn't been great.