- The shares of Qualcomm (NASDAQ: QCOM) have received a $210 price target from KeyBanc. These are the details.
The shares of Qualcomm (NASDAQ: QCOM) have received a $210 price target from KeyBanc. And KeyBanc analyst John Vinh increased the price target on Qualcomm from $185 while maintaining an “Overweight” rating on the shares.
Vinh pointed out that at its Qualcomm derisked concerns about Apple, indicating its share of the 2023 iPhone would decline to 20% and would exit fiscal 2024 at a low-single digit percentage of QCT revenues yet expects handsets to still grow at the industry 3-year compound annual growth rate (CAGR) of 12% as Android is expected to grow faster and offset.
Plus Qualcomm reported it has secured multiyear chip agreements over the next 2 years with all handset OEMs. And Vinh also highlights that auto revenues are expected to grow to $3.5 billion, anchored by key wins at General Motors (GM) and BMW.
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