Qualcomm (QCOM -0.8%) is off modestly after receiving both an upgrade to Outperform from BNP Paribas, and a downgrade to Neutral from DA Davidson. Like Avian, Davidson is worried about Qualcomm's competitive threats: an upcoming Intel 4G baseband chip, Nvidia's Tegra 3 app processor design wins, Broadcom's mid-range baseband design wins, and competition from Spreadtrum, MediaTek, and RDA Microelectronics in the Chinese market are cited.
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