Why Qualcomm Stock Was Trading Down Earlier Wednesday
Shares of (NASDAQ: QCOM) were down 2% as of 12:35 p.m. ET on Wednesday. The dip came after a report from The Wall Street Journal that the Biden administration was considering restricting the shipment of artificial intelligence (AI) chips to China and other countries without first obtaining a license.
This news follows similar restrictions put in place last year on advanced computing chips.
The AI boom has sent the Nasdaq Composite soaring 30% year to date, as many leading tech stocks could see growing revenues from demand for AI technologies.
Source Fool.com
Qualcomm Inc. Stock
€141.18
7.090%
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 23.25% for Qualcomm Inc. compared to the current price of 141.18 €.
