QCOM Stock: $150 Target (Down From $195) By Evercore

By Amit Chowdhry ● April 12, 2021
  • The shares of Qualcomm, Inc (NASDAQ: QCOM) have received a price target decrease from $195 to $150 by Evercore. These are the details.

The shares of Qualcomm, Inc (NASDAQ: QCOM) have received a price target decrease from $195 to $150 by Evercore. And C.J. Muse downgraded the QOM rating from “Outperform” to “In-Line.”

Muse cited Qualcomm’s shares as increasing 146% prior to its settlement with Apple and 59% ever since Evercore named QCOM a “top pick” in June 2020. And Muse also pointed out a “likely worsening competitive environment” as the pressure comes from MediaTek.

Some of the other headwinds includes Apple’s sentiment of turning 5G iPhones into in-house modems and the slowing penetration of mmWave 5G. Plus there is likely an increase in foundry pricing. All of these issues combined makes a balanced risk/reward for Qualcomm.

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