Qualcomm: Wall Street’s Patience Is Wearing Thin

Shares of tech giant Qualcomm (NASDAQ:QCOM) have stumbled into the new year on the back of a sudden shift in analyst tone. The stock fell nearly 5% to start the week and is now trading back under $170, a sharp reversal from the optimism that had been building late last year, when it looked poised to break through resistance around $184. The catalyst was the first notable analyst update of the year. The team over at Mizuho downgraded its rating on Qualcomm from Outperform to Neutral, while also cutting its p ...