Citi raising estimates and opened a “30-day positive catalyst watch” on Qualcomm (QCOM) citing better than expected handset demand, particularly from China. The firm expects a “beat and raise” during earnings and says low sentiment provides a “reasonable valuation” on Qualcomm shares. Citi keeps a Neutral rating on the name.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QCOM:
- Trump looks at semiconductors, electronics supply chain in tariff investigation
- Sector Spotlight: Tech sector tangles with tariff tumult
- Intel, Texas Instruments slip as trade fight prompts CSIA emergency notice
- U.S. chipmakers outsourcing production to avoid China tariffs, Reuters reports
- Qualcomm price target lowered to $145 from $185 at Citi