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Fly News Breaks for October 9, 2019
QCOM
Oct 9, 2019 | 07:30 EDT
Canaccord analyst T. Michael Walkley said iPhone strength combined with soft global Android smartphone demand and ongoing China smartphone weak trends, will result in weak near-term results for Qualcomm. This is consistent with company guidance but the analyst remains positive long-term as he believes the company is well positioned to benefit from the transition to 5G. Walkley reiterated his Buy rating and $87 price target on Qualcomm shares.
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