(CercleFinance.com) – Susquehanna renewed its “positive” opinion on Qualcomm on Thursday, but with a price target reduced from $145 to $140 after the results deemed “disappointing” published this week by the mobile chip designer.
In a note sent to its clients, the American broker believes, however, that the low point has now passed for the American technology group.
While acknowledging that the recovery in activity could take longer than expected given the difficulties in the smartphone market, high inventory levels and slowing economic growth, the broker is confident about the strategy put in place. implemented by its managing director Cristiano Amon.
According to Susquehanna, Qualcomm has the potential to move beyond being a specialist in mobile communications to become a true player in the semiconductor industry, with businesses spanning from automotive to the Internet of Things (IoT) in going, of course, through artificial intelligence, even if the company’s projects in this area are still in their infancy.
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