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Qualcomm stock gets a downgrade at Citi after earnings – MarketWatch

Citi Research analyst Christopher Danely downgraded shares of Qualcomm Inc.
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…

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