Why Qualcomm Stock Lagged the Market on Thursday
Qualcomm (NASDAQ: QCOM) stock couldn't quite keep pace with the broader market on Thursday, ending the day essentially flat while the S&P 500 index crept almost 0.8% higher. Some investors were dismayed by a new take on semiconductor companies from an analyst resuming coverage of the sector who was rather cool on Qualcomm's prospects.
The (re)covering party was Raymond James analyst Srini Pajjuri, who resumed tracking a host of "semis." In addition to Qualcomm, the lineup included top sector players Nvidia, Advanced Micro Devices, and Intel, among others.
Of the nine stocks, Pajjuri tagged two -- Nvidia and AMD -- as strong buys, rated four (including Intel) as outperform (buy, in other words), and three as mere market-perform (i.e., hold) candidates. Qualcomm was one of the latter trio.
Source Fool.com
