Business News

Qualcomm stock gets a downgrade at Citi after earnings – MarketWatch

Citi Research analyst Christopher Danely downgraded shares of Qualcomm Inc.
QCOM,
-9.01%
to neutral from buy Thursday, following what he called a “mixed” earnings report. While Qualcomm exceeded Danely’s expectations with its fiscal first-quarter revenue and earnings per share, gross margins decelerated and came in below his estimates. ” We upgraded QCOM last year based on upside driven by share gains and the 5G upgrade cycle,” Danely wrote. “We believe the upside is over and expect more instances…

Click here to view the original article.

Related Posts

You might also like ...