Qualcomm Stock Has 18% Upside, According to 1 Wall Street Analyst
Demand for high-end and flagship smartphones is strong, according to supply chain research performed by KeyBanc. This bodes well for (NASDAQ: QCOM), reasons KeyBanc analyst John Vinh. Vinh reiterated his overweight rating on Qualcomm stock to start the week and raised his price target from $180 to $205. The new price target represents a potential upside of about 18% over the next 12 months or so.
KeyBanc sees momentum building for Qualcomm on multiple fronts in the smartphone market. While smartphone maker Samsung opted to use either Qualcomm's Snapdragon chips or its home-grown Exynos chips in its Galaxy S24 family, depending on the model and market, KeyBanc expects Qualcomm to regain a 100% market share for Samsung's upcoming Galaxy S25 family.
KeyBanc also sees Qualcomm gaining market share in the mid-range from Taiwan-based MediaTek. Qualcomm has seen its overall smartphone processor market share slip from 32% in the third quarter of 2022 to 23% in the fourth quarter of 2023, according to Counterpoint Research. MediaTek is the market leader globally, with a particularly strong presence in low-end and mid-range phones.
Source Fool.com
Qualcomm Inc. Stock
The stock is an absolute favorite of our community with 27 Buy predictions and no Sell predictions.
With a target price of 157 € there is a slightly positive potential of 1.02% for Qualcomm Inc. compared to the current price of 155.42 €.
