Why Qualcomm Stock Was Trading Down Earlier Wednesday
Shares of (NASDAQ: QCOM) were down 2% as of 12:35 p.m. ET on Wednesday. The dip came after a report from The Wall Street Journal that the Biden administration was considering restricting the shipment of artificial intelligence (AI) chips to China and other countries without first obtaining a license.
This news follows similar restrictions put in place last year on advanced computing chips.
The AI boom has sent the Nasdaq Composite soaring 30% year to date, as many leading tech stocks could see growing revenues from demand for AI technologies.
Source Fool.com
Qualcomm Inc. Stock
€152.40
-1.360%
With 48 Buy predictions and 2 Sell predictions Qualcomm Inc. is one of the favorites of our community.
As a result the target price of 178 € shows a slightly positive potential of 16.8% compared to the current price of 152.4 € for Qualcomm Inc..
