- 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.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.