BofA reinstated Qualcomm (QCOM) at Underperform with a $145 price target as the analyst took over coverage of the stock. Previously, the firm had a Neutral rating on Qualcomm shares. Qualcomm is a leader in smartphone processors, but it’s a mature industry with downside risks from rising memory prices, notes the analyst, who cites the “well-known imminent” $7B-$8B loss of Apple (AAPL) business and Qualcomm’s “lukewarm” sales and EPS compound annual growth rates from calendar year 2025-28 for the firm’s Underperform rating.
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