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March 10, 2020, 1:29 p.m. EDT

Qualcomm stock initiated at 'buy' rating at Instinet

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By Wallace Witkowski

Qualcomm Inc. /zigman2/quotes/206679220/composite QCOM +3.55% received a buy rating from Instinet as the firm initiated coverage of the chip maker's stock Tuesday. Instinet analyst David Wong set a price target of $98 based on a 18x multiple of his 2022 earnings per share estimate of $5.47. "The leading smartphone makers in the world, including Apple /zigman2/quotes/202934861/composite AAPL -0.10% , Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.60% , Xiaomi, OPPO, and Vivo use Qualcomm's modems in some of their current or upcoming 5G phones," Wong said. "Qualcomm expects its 5G-related dollar content opportunity to be around 1.5x what it was at the 4G level." Qualcomm shares rose 4.3% at last check while the PHLX Semiconductor Index was up 2.3%.

/zigman2/quotes/206679220/composite
US : U.S.: Nasdaq
$ 80.88
+2.77 +3.55%
Volume: 10.56M
May 29, 2020 4:00p
P/E Ratio
23.98
Dividend Yield
3.21%
Market Cap
$87.87 billion
Rev. per Employee
$607,486
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 317.94
-0.31 -0.10%
Volume: 38.40M
May 29, 2020 4:00p
P/E Ratio
24.92
Dividend Yield
1.03%
Market Cap
$1379.40 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
50,700.00
+300.00 +0.60%
Volume: 27.60M
May 29, 2020 3:30p
P/E Ratio
16.18
Dividend Yield
2.79%
Market Cap
₩342350.00 billion
Rev. per Employee
N/A
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