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Tuesday, Feb 12
Qualcomm (QCOM) -1.4% thanks to a downgrade to Neutral from JPMorgan, which foresees "rapidly...
Qualcomm (QCOM) -1.4% thanks to a downgrade to Neutral from JPMorgan, which foresees "rapidly slowing smartphone adoption" in 2014. The firm also sees 3G device ASPs falling this year - Qualcomm's device royalties are based on a % of OEM selling prices. The downgrade follows solid post-earnings gains. Separately, Broadcom (BRCM) says its first 4G baseband chip will be smaller than rival chips, but (like Intel's) won't ship in volume until 2014 - Qualcomm dominates this market, though some competition exists. (2013 smartphone estimates)