Generative AI-enabled smartphones and computers could send this underperforming chip stock on a bull run.
Shares of Qualcomm Inc. took a hit Tuesday after KeyBanc Capital dropped its longtime buy call, saying the semiconductor maker hasn't been benefiting as expected from the artificial-intelligence boom and could start losing market share in the coming months.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Qualcomm (QCOM) closed at $166.94 in the latest trading session, marking a -1.16% move from the prior day.
Qualcomm's recent 35% stock decline is unjustified given strong operational performance, creating an excellent buying opportunity with a "strong buy" rating. Qualcomm beat fiscal 2024 earnings and revenue estimates, showing significant growth in the automotive segment and positive guidance for the next quarter. Key support levels at $151.39-$152.70 suggest potential for new buying activity; initial resistance is expected around $176.80 and $182.64.
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Recently, Zacks.com users have been paying close attention to Qualcomm (QCOM). This makes it worthwhile to examine what the stock has in store.
The latest trading day saw Qualcomm (QCOM) settling at $170.05, representing a -0.05% change from its previous close.
Qualcomm (QCOM) stock price remains in a deep bear market even as the company considers making a bid for Intel, the giant semiconductor company. It has dropped by over 27% from its highest point this year, giving it a market cap of over $184 billion.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
This company remains indispensable to its industry despite efforts by top companies to supplant it. Revenue growth appears poised to ramp up again as a new upgrade cycle begins.
Recently, Zacks.com users have been paying close attention to Qualcomm (QCOM). This makes it worthwhile to examine what the stock has in store.