Qualcomm Is Down 37% From Its High and Reports Wednesday. Is the Stock a Buy?
Qualcomm (QCOM -4.04%) trades at $162.88 as of this writing, about 37% below its 52-week high of $259.92. The 36 analysts covering the chipmaker rate it, on average, a hold. Yet those same analysts carry an average price target of $221.23, about 36% above the stock. What gives? In short, shares have pulled back sharply…