Why Qualcomm Stock Rocketed Higher Today
Shares of mobile chipmaker Qualcomm (NASDAQ: QCOM) soared on Friday following reports that Broadcom (NASDAQ: AVGO) was exploring a deal to acquire the company. According to Bloomberg's sources, Broadcom could bid more than $100 billion for Qualcomm. At 2:45 p.m. EDT, Qualcomm stock was up about 13%, while Broadcom stock was up nearly 5%.
Broadcom is reportedly talking to advisors about a possible deal, with a cash-and-stock offer of around $70 per share being considered. No final decision has been made, and there's no guarantee that an offer will materialize.
Image source: Qualcomm.
Source: Fool.com
Broadcom Ltd. Stock
€1,555.0
-3.910%
The stock is an absolute favorite of our community with 70 Buy predictions and no Sell predictions.
As a result the target price of 1750 € shows a slightly positive potential of 12.54% compared to the current price of 1555.0 € for Broadcom Ltd..
