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RBC snips Qualcomm target on smartphone softness, Apple litigation

Nov. 08, 2018 7:56 AM ETQUALCOMM Incorporated (QCOM) StockQCOMBy: Brandy Betz, SA News Editor85 Comments
  • RBC Capital maintains an Outperform rating on Qualcomm (NASDAQ:QCOM) after earnings and lowers the target from $77 to $71.
  • Analyst Amit Daryanani notes cost containment in the quarter was offset by soft smartphone demand and all eyes are on the Apple litigation. Qualcomm said the preliminary judicial ruling this week doesn’t alter its discussions with the FTC and its antitrust case. 
  • Other snips: UBS from $67 to $64 (Neutral), Deutsche Bank from $70 to $65 (Hold), and Barclays from $95 to $87 (Overweight). 
  • Qualcomm shares are down 6.8% premarket to $58.90.  
  • Previously: Qualcomm beats by $0.07, beats on revenue (Nov. 7)
  • Previously: Qualcomm -2.7% on Q4 beats, downside revenue guide (Nov. 7)

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