Qualcomm Analyst Turns Bearish As 'Addressable Market Shrinks' In 2026

Qualcomm Inc (NASDAQ: QCOM) has been downgraded from Neutral to Sell by analyst Jay Goldberg of Seaport Research Partners, with a price target maintained at $100. The analyst predicts a challenging year in 2026, citing a potential 10%-15% decline in mobile phone volumes due to rising memory prices and increasing competition from internal silicon. Additionally, Qualcomm's customers are losing market share, and Apple Inc is expected to further reduce its reliance on Qualcomm components. As of the latest update, Qualcomm's shares have decreased by 0.10% to $129.70.