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Qualcomm's stock is rallying despite being called an AI loser by Wedbush, as the company has been positioning itself for the next wave of generative AI deployment with its edge computing and connectivity expertise. The stock has found solid support and is confirming a higher low in its multi-month uptrend, with technical indicators such as MACD and RSI showing bullish signals. Qualcomm's exposure to automotive technology and IoT further offsets its reliance on legacy hardware markets.

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