Information Provided By:
Fly News Breaks for April 23, 2015
QCOM
Apr 23, 2015 | 06:18 EDT
Citigroup says Qualcomm's Q2 results indicate the "very bad year" for the company's chip business continues. The firm, however, expects the chip unit to recover in 2016 and points out the royalty business is hitting record levels. Citi thinks Qualcomm's final guide-down is near and keeps a Buy rating on the stock with an $88 price target.