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Qualcomm (QCOM): New Buy Recommendation for This Technology Giant

In a report released today, Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Qualcomm (QCOMResearch Report). The company’s shares closed yesterday at $126.02.

According to TipRanks, Cassidy is a top 100 analyst with an average return of 21.9% and a 65.24% success rate. Cassidy covers the Technology sector, focusing on stocks such as Qualcomm, Seagate Tech, and Western Digital.

In addition to Rosenblatt Securities, Qualcomm also received a Buy from Argus Research’s Jim Kelleher in a report issued on November 4. However, on November 3, Citigroup maintained a Hold rating on Qualcomm (NASDAQ: QCOM).

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QCOM market cap is currently $141.3B and has a P/E ratio of 11.08.

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QUALCOMM, Inc. develops and sells wireless telecommunications products and services that are used in mobile devices and other wireless products (including network equipment, broadband gateway equipment, consumer electronic devices and other connected devices) as well as in automotive and internet of things (IoT). It operates through three segments: Qualcomm CDMA Technologies (QCT) semicondutor business, Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The company was founded by Franklin P. Antonio, Adelia A. Coffman, Andrew Cohen, Klein Gilhousen, Irwin Mark Jacobs, Andrew J. Viterbi, and Harvey P. White in July 1985 and is headquartered in San Diego, CA.

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