Goldman Sachs Removes Qualcomm (QCOM) from Conviction Buy List
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Price: $65.76 --0%
Rating Summary:
25 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
25 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade QCOM Now!
Goldman Sachs removed Qualcomm (NASDAQ: QCOM) from its Conviction Buy List buty maintained a Buy rating and $80 price target.
The remove comes as the firm sees: chipset market share peaking in 2013 as competitors launch LTE chipsets into 2014; device ASPs in the royalty business also peaking in 2013; 3G/4G attach in tablets/notebooks is trailing expectations; and (4) Verizon is pushing for LTE-only (no CDMA) devices in 2014.
Goldman notes while their estimates are above consensus, they do show decelerating EPS growth to 10%-11% in CY14 and CY15, compared to a 21% CAGR in CY10-CY13.
For an analyst ratings summary and ratings history on Qualcomm click here. For more ratings news on Qualcomm click here.
Shares of Qualcomm closed at $67.97 yesterday, with a 52 week range of $53.09-$68.87.
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The remove comes as the firm sees: chipset market share peaking in 2013 as competitors launch LTE chipsets into 2014; device ASPs in the royalty business also peaking in 2013; 3G/4G attach in tablets/notebooks is trailing expectations; and (4) Verizon is pushing for LTE-only (no CDMA) devices in 2014.
Goldman notes while their estimates are above consensus, they do show decelerating EPS growth to 10%-11% in CY14 and CY15, compared to a 21% CAGR in CY10-CY13.
For an analyst ratings summary and ratings history on Qualcomm click here. For more ratings news on Qualcomm click here.
Shares of Qualcomm closed at $67.97 yesterday, with a 52 week range of $53.09-$68.87.
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