Cantor Fitzgerald lowered the firm’s price target on Qualcomm (QCOM) to $160 from $185 and keeps a Neutral rating on the shares. Qualcomm is expected to beat for the December quarter, but will likely guide modestly below consensus for March and well below for June, reflecting Apple’s (AAPL) limited share, Samsung (SSNLF) moving some modems in-house, and China handset declines amid component shortages, the analyst tells investors in a research note.
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