Is Qualcomm facing tough Q4 earnings outlook? Here’s what you need to know

On November 5th, 2024, JP Morgan cut its price target for Qualcomm Inc (NASDAQ: QCOM) from $210 to $195, citing ongoing challenges in the smartphone market. Analyst Samik Chatterjee expressed concerns over fading inventory replenishments by Chinese smartphone OEMs, along with Qualcomm’s lost revenue from Huawei and Apple’s shift towards in-house modem chips. Despite maintaining […]