Qualcomm Stock Downgraded on Industry Headwinds

Qualcomm Inc (NASDAQ:QCOM) stock was last seen 1.1% lower to trade at $128.88, after receiving a downgrade at Bernstein to "market perform" from "outperform," in addition to a price-target cut to $140 from $175. The firm noted memory industry headwinds, with Alphabet (GOOGL) revealing a new AI model that may need less memory to run big language models.The brokerage bunch was already bearish toward QCOM coming into today, with 20 of the 32 in coverage carrying "hold" or worse ratings. There's room for price- ...