Qualcomm: Smartphone Market Share Loss To Act As Near-Term Headwind

Qualcomm Inc. is facing near-term headwinds due to market share losses at key smartphone customers, including Apple and Chinese OEMs, as noted by Goldman Sachs analyst James Schneider, who initiated coverage with a Neutral rating and a price target of $135. Rising memory costs may lead to decreased demand in the smartphone segment, which is Qualcomm's largest. The company is attempting to diversify its revenue by expanding into adjacent markets such as automotive, PCs, and datacenters. As of the latest report, Qualcomm shares were up 0.59% at $127.86.