US Stock Market Move | Qualcomm (QCOM.US) soared more than 11% in early trading, with a cumulative increase of 75% since April.

On Friday, Qualcomm (QCOM.US) saw a significant increase of over 11% in the morning session, with a cumulative increase of 75% since April, now trading at $226.14. In terms of news, the company had previously released two positive signals when announcing its quarterly performance: progress in its data center business, and the Chinese smartphone market is expected to reach a bottom in the third quarter and then recover with sequential growth, boosting investor confidence. Qualcomm stated that a leading hyperscale cloud service operator is expected to start using its chip products later this year, marking a key breakthrough for the company in entering the data center market. The market believes this is also an important progress for Qualcomm to enter the AI infrastructure growth track currently dominated by NVIDIA Corporation (NVDA.US).