Why Qualcomm Stock Rocketed Higher Today
Shares of mobile chipmaker Qualcomm (NASDAQ: QCOM) soared on Friday following reports that Broadcom (NASDAQ: AVGO) was exploring a deal to acquire the company. According to Bloomberg's sources, Broadcom could bid more than $100 billion for Qualcomm. At 2:45 p.m. EDT, Qualcomm stock was up about 13%, while Broadcom stock was up nearly 5%.
Broadcom is reportedly talking to advisors about a possible deal, with a cash-and-stock offer of around $70 per share being considered. No final decision has been made, and there's no guarantee that an offer will materialize.
Image source: Qualcomm.
Source: Fool.com
Broadcom Ltd. Stock
€160.94
3.740%
The stock is one of the favorites of our community with 67 Buy predictions and 1 Sell predictions.
Based on the current price of 160.94 € the target price of 1384 € shows a potential of 759.95% for Broadcom Ltd. which would more than double the current price.
