Qualcomm's Form 8-K on the Amazon warrant reached EDGAR on 8 September, and QCOM futures on Phemex spiked to 187.54 that day. The perpetual closed Tuesday 15 September at 188.09, its first daily close above that high, and this Qualcomm price analysis reads the week in between.
The calendar runs in three steps. Qualcomm issued the warrant on 3 September and filed it at 09:00 ET on 8 September. The perp then spiked 9.8% above its 7 September close before settling that bar at 174.58. Six closes in a row then failed under 187.54, until 15 September gained 4.20% on 1.64 times its average session turnover.
Item | Value |
Anchor close | 188.09 USDT on the Phemex QCOMUSDT daily bar, Tuesday 15 September 2026, up 4.20% |
The level cleared | 187.54, the 8 September high, which no close from 8 to 14 September reached |
Moving averages | Above the 100-bar average of 179.15 and the 50-session average of 168.87, no 200-day line |
Series range | 24.92% under the 250.53 weekday high close of 29 May, 27.50% over the 147.52 low of 31 July |
Turnover | $884,337, 1.64 times the prior 20-session average of $537,632 |
Amazon warrant | Up to 25 million shares at $161.26, expiring 3 September 2036 (8-K) |
Why Did Qualcomm's $187.54 High Hold for a Week?
The 8 September bar opened at 169.01, ran to 187.54 and closed at 174.58, so the market gave back about 70% of the Amazon-deal spike inside one UTC day. That bar carried $879,408 of turnover, the heaviest since the 29 July results bar, and it set the ceiling for everything that followed.
Buyers came back at it four more times before they got through. The 11 September bar reached 185.65 and closed at 182.24, the best close of the week, and the 14 September bar opened at 179.09 and closed at 180.51. Neither close came within two dollars of the high.
The weekend bars in between are Phemex trading hours with no Nasdaq session under them. The perp closed Sunday 13 September at 176.01, down from 181.45 on the Saturday, on $199,760 of turnover against more than $900,000 on the Monday that followed. Weekend drift on a stock perp is thin and reverses often. Our breakdown of which TradFi perpetuals move while the US market is closed shows the same pattern across other listed stocks.
On 15 September the bar ran from 177.65 to 190.31 and closed at 188.09. StockStory reported on 15 September that Qualcomm stock "jumped 4.6% in the morning session after StoneX reiterated its Buy rating and a $270.00 price target". The same report had the shares cooling to $186.94, up 3.8% from the previous close. The $270 figure is StoneX's target, and StockStory's print and our 00:00 UTC perp close are two different instants.
The 4.20% gain ranked fourth among the 116 Phemex perpetuals with a 15 September bar, in a session where only 22 of them closed higher.
What the Qualcomm Amazon Deal Put on the Calendar
Qualcomm's press release, datelined San Diego on 8 September, describes a multi-generational product collaboration with Amazon covering custom silicon for AI data centers and "optical connectivity solutions extending up to 1.6T". The release names no share count and no dollar value. Those sit in the filing.
The Qualcomm warrant is the part of the Qualcomm Amazon deal that carries numbers. According to the 8-K, Qualcomm issued it on 3 September to an Amazon affiliate for up to 25,000,000 shares at $161.26 each. It expires on 3 September 2036. Of those shares, 3,750,000 vested on issuance against initial purchase commitments. The rest vest in tranches as Amazon signs commercial arrangements, places binding orders and makes purchases, up to $60 billion in payments over the term. The filing also says Qualcomm expects to register the resale of those shares in a prospectus supplement, and EDGAR showed no such supplement for the warrant through 15 September.
The strike of $161.26 sat 26.83 dollars under the 15 September perp close. The other party is a company Phemex also lists as a stock perp, and our Amazon (AMZN) stock page walks through its side of the AI spending story.
The Moving Averages in This Qualcomm Price Analysis
Method: I used the Phemex QCOMUSDT daily UTC bars from the 7 May listing to 15 September, 132 bars in all. For the 50-period average I also counted sessions only, dropping 38 weekend bars and four US market holidays, which leaves 90 sessions and too few for a 200-day line.
The two counts give different answers for the same line. Across all 132 bars the 50-bar average stood at 165.29 on 15 September, and across sessions only it stood at 168.87. Low weekend prints drag the all-bar figure about two percent lower. The perp first closed above its 50-bar average on 31 August at 170.44 and hasn't closed below it since.
The 100-bar average of 179.15 is the line that moved the story. Price crossed above it on Friday 11 September, fell back below on the Sunday 13 September bar and crossed back above on Monday 14 September at 180.51. So the breakout close on 15 September came one bar after the reclaim. If you run a simple moving average strategy, you had the 100-bar line under price for both closes.
That average also marks the first support below the breakout. The distance from 188.09 to 179.15 is 4.75%.
How QCOM Futures Track the Qualcomm Stock Price
Phemex listed QCOMUSDT at 10:00 UTC on 7 May 2026 as a perpetual with 10x maximum leverage, one contract per share of QCOM on the .QCOMUSDT index. The product record's fundingInterval field reads 28,800 seconds, so funding settles every eight hours, and the description text on the same record agrees. Our explainer on what TradFi futures are covers how the index and the margin work.
The QCOM stock price you see quoted as a Nasdaq close is a 16:00 ET number. The perp's daily bar closes at 00:00 UTC, which is 20:00 ET, so it takes in four hours of after-hours trading as well. When this page gives 188.09, that's the Phemex perp at 20:00 ET on 15 September and never the official close.
That timing matters most on results days. Qualcomm furnished its third-quarter results at 20:01 UTC on 29 July, inside that day's UTC bar. The bar closed at 148.88, down 9.76%, and two sessions later the perp posted its series low close of 147.52 on 31 July. When you trade TradFi assets 24/7 as futures, an after-hours reaction lands in the same bar as the day's trading.
What Would Break the View on Qualcomm Stock?
A daily close back under 187.54 would put the perp back inside the range it held from 8 to 14 September and turn the breakout into a failed test. A close under the 100-bar average at 179.15 goes further and reverses the 14 September reclaim. At 10x, the 4.75% slide from 188.09 to that average costs 47.5% of posted margin before fees and funding.
On the upside, the last close higher than 188.09 came on 10 July at 188.98, and the closes from 8 to 10 July ran between 187.87 and 190.83. A close above 190.83 would clear both those July closes and the 15 September intraday high of 190.31.
The next dated line on the Qualcomm calendar is 27 September, the last Sunday of the month and the end of Qualcomm's fiscal year. Qualcomm hasn't filed a date for the fourth-quarter report. Last year's fiscal year ended 28 September 2025 with results on 5 November 2025, so on that pattern the report lands in early November.
Frequently Asked Questions
When does Qualcomm pay its next dividend?
Qualcomm declared a quarterly cash dividend of $0.92 per share on 17 July, payable on 24 September 2026 to holders of record on 3 September, the same day it issued the Amazon warrant.
Has Qualcomm issued other unregistered shares in 2026?
Yes. A 24 June 8-K reported an agreement of 21 June to buy Modular Inc for up to 19.2 million shares, and Qualcomm filed to register the resale of 17,826,566 of those shares on 31 July.
How far is QCOM from its highest close on Phemex?
The highest close in the series, which starts on 7 May 2026, is 251.12 on the Saturday 30 May bar. The highest weekday close is 250.53 on Friday 29 May, and 15 September's 188.09 sits 24.92% under it.
Bottom Line
The Amazon filing set the 187.54 high in one bar, and it took the market six closes and a reclaimed 100-bar average to pay that price again. That order matters, because the 15 September close came from a chart that had already rebuilt support at 179.15 a bar earlier. The 8-K ties the rest of the 25 million warrant shares to up to $60 billion of Amazon payments, and each tranche that vests adds a filing date the chart hasn't priced. Until one lands, the level to defend is 187.54 and the level that ends the read is 179.15.
Disclaimer: This article is for informational purposes only and is not financial advice. Cryptocurrency trading involves substantial risk. Always do your own research before making investment decisions.
