The Zhitong Finance App learned that Wall Street research firm Bernstein released a research report on Monday stating that as rising memory chip prices continue to impact the smartphone market, Qualcomm (QCOM.US)'s short-term performance prospects are under increasing pressure. Although the company is actively expanding its automotive, IoT and data center businesses, smartphone chips are still its main source of revenue. Bernstein is concerned that the smartphone market may repeat the recent sharp decline in demand in the personal computer (PC) market, so he lowered Qualcomm's future performance expectations and lowered its target price from 165 US dollars to 155 US dollars, maintaining the “same as the general market” rating.

The Zhitong Finance App learned that Wall Street research firm Bernstein released a research report on Monday stating that as rising memory chip prices continue to impact the smartphone market, Qualcomm (QCOM.US)'s short-term performance prospects are under increasing pressure. Although the company is actively expanding its automotive, IoT and data center businesses, smartphone chips are still its main source of revenue. Bernstein is concerned that the smartphone market may repeat the recent sharp decline in demand in the personal computer (PC) market, so he lowered Qualcomm's future performance expectations and lowered its target price from 165 US dollars to 155 US dollars, maintaining the “same as the general market” rating.