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Why Qualcomm Rallied on Friday

TheMotleyFool 
0 0 24.07.23
Why Qualcomm Rallied on FridayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/a130cb51-4ded-41be-b600-b83e2078ad65.png
 

Shares of (NASDAQ: QCOM) were rallying on Friday, up more than 3.3% on a day when the Nasdaq Composite actually finished slightly in the red.  

Qualcomm has been attempting to diversify its business into automotive and Internet of Things chips in recent years, but it still gets the lion's share of revenue and earnings from its dominant mobile modem chipset business and technology licensing for mobile phones.

While the global handset industry has been in the doldrums for the past year following the pandemic boom, one Wall Street analyst initiated a report today on Qualcomm with a more optimistic outlook.

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Source Fool.com

Qualcomm Inc. Stock

€141.50
0.630%
Qualcomm Inc. gained 0.630% compared to yesterday.
Our community is currently high on Qualcomm Inc. with 40 Buy predictions and 10 Sell predictions.
With a target price of 174 € there is a positive potential of 22.97% for Qualcomm Inc. compared to the current price of 141.5 €.
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