Qualcomm Shares Are Trading Lower Tuesday: What's Going On?
Portfolio Pulse from Vaishali Prayag
Qualcomm shares are trading lower following a downgrade by KeyBanc due to Apple's shift to internal modems and increased competition from Mediatek. The downgrade reflects concerns over Qualcomm's earnings and market share.
October 08, 2024 | 7:42 pm
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POSITIVE IMPACT
Apple's shift to internal modems is expected to impact Qualcomm's earnings negatively. This strategic move highlights Apple's efforts to reduce dependency on external suppliers.
Apple's transition to using its own modems is a strategic move to reduce reliance on Qualcomm, which is expected to negatively impact Qualcomm's earnings. This move could be seen as positive for Apple as it strengthens its supply chain independence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Qualcomm shares are down after KeyBanc downgraded the stock, citing Apple's move to internal modems and competition from Mediatek. This is expected to impact Qualcomm's earnings and market share.
KeyBanc's downgrade of Qualcomm is based on Apple's transition to its own modems, which will reduce Qualcomm's earnings. Additionally, increased competition from Mediatek in the smartphone market is expected to further pressure Qualcomm's market share and earnings. These factors are likely to negatively impact Qualcomm's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100