Form 8-K QUALCOMM INC/DE For: Aug 08

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Go back to Form 8-K QUALCOMM INC/DE For: Aug 08

Qualcomm cut at Wolfe Research as Apple internal modem expected to 'finally have an impact'

August 12, 2024 8:41 AM EDT

Wolfe Research downgraded Qualcomm (NASDAQ: QCOM) to Peer Perform from Outperform, removing its price target for the stock, citing growing concerns about the impact of Apple (NASDAQ: AAPL) internal modem on Qualcomm's future revenue.

The analysts highlight that while Qualcomm had previously downplayed the potential threat, the situation has now changed.

"It's no surprise that... More