Citigroup placed Qualcomm under a 30-day observation period to monitor potential downside risks.
Smartphone manufacturers Xiaomi, Oppo, and Vivo are reportedly reducing shipment forecasts for 2026. Xiaomi has cut its projected volume by approximately 30%.
Reduced handset demand directly impacts revenue for Qualcomm as a leading chip supplier. Citi maintained its Neutral rating and $198 price target during this evaluation.
Benchmark reiterated a Buy rating and a $300 price target for the company. Analysts at Benchmark cited expansion into the data center market as a primary growth driver.