After having attended Qualcomm’s (QCOM) analyst day, which focused on diversification away from handsets into other semiconductor strategies across automotive, PC and IoT, BofA walked away “upbeat given Qualcomm’s strong market positioning and long-term revenue targets,” which suggest healthy growth potential across new segments, the analyst tells investors. Two questions remain, however, namely the timing of new segments ramping into revenue contribution, and the sustainability of near-term growth as recent strength has been mostly supported by onetime benefits, adds the firm, which maintains its Buy rating and $245 price target on Qualcomm shares.
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Read More on QCOM:
- Qualcomm price target lowered to $210 from $230 at Susquehanna
- Qualcomm (QCOM) Forecasts $8B in Automotive and PC Chip Sales by 2029
- Qualcomm provides new five-year financial targets for its QCT business
- Qualcomm sees total market opportunity of $900B by 2030
- Qualcomm to host investor day
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
