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QCOM / Qualcomm stock declines after Wells Fargo turns bearish

Wells Fargo analyst Gaby Mobley downgraded shares of Qualcomm Inc. QCOM, -2.22% to underweight from equal weight Monday, writing that the reasoning behind the ratings change is consistent with his October downgrades of Qorvo Inc. QRVO, -1.19% and Skyworks Solutions Inc. SWKS, -0.68% . "That is, once investor sentiment toward the chip sector turns more positive, or once investors are convinced we've reached a trough in the chip cycle, we believe shares of companies w/high smartphone exposure should underperform the broader chip sector," Mobley wrote. Read More

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Qualcomm

Stock

Declines

After

Wells

Fargo

Turns

Bearish

QCOM

Posted: Dec 12 2022, 09:18

Author Name: Market Watch

QCOM News

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Qualcomm Earnings Beats Estimates. The Stock Is Rising.

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