Qualcomm (QCOM) is positioned close to the eye of the macro storm. A heavy reliance on China and uncertainty concerning near-term smartphone supply and demand dynamics have contributed to a difficult 2020 for QCOM, with shares down 12% year-to-date. However, despite renewed tensions between the U.S. and China, Qualcomm could actually benefit from the worrying developments, so says Canaccord Genuity analyst Michael Walkley. The recent Department of Commerce ban on Huawei, preventing it from purchasing semiconductors from U.S. companies, has ignited fears of retaliatory moves against companies such as Apple and Qualcomm. That being said, Qualcomm’s management noted Huawei is …read more
Source:: Yahoo Finance
