20 AI News and Analyst Ratings You Should Not Miss

15. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 78 

QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. The Wall Street Journal recently reported that Qualcomm had approached rival Intel about a possible takeover, sparking speculation about the future of the rivalry between Arm and x86 processors, the two most famous chip designs on the market. The move is seen as an entry into the PC market by Qualcomm, which has a large smartphone business already. The AU-driven PC strategies of tech giants like Microsoft and Apple inspired the offer, per the reports, which have been corroborated by several different outlets in the US.

JPMorgan has an Overweight rating on QUALCOMM Incorporated (NASDAQ:QCOM) stock and recently lowered the price target to $210 from $230. An investor note on the latest price target detailed that the upcoming year was likely to be key for Qualcomm with the likelihood of displacement of revenue from Apple’s in-sourcing of the modem increasing. While the growth opportunities for Qualcomm remained substantial, per the investment advisory, investors would look for a clearer understanding of earnings power, incorporating headwinds from the loss of Apple revenue, which might lead to an overhang on the stock.