UBS Keeps a Neutral Rating on QUALCOMM Incorporated (QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) is among the 12 Best Autonomous Driving Stocks to Buy Right Now.

TheFly stated on January 26, 2026, that UBS kept its rating at Neutral and reduced its price objective for QUALCOMM Incorporated (NASDAQ:QCOM)  from $185 to $160.

Mizuho also lowered the corporation’s price target that day from $175 to $160. It maintained a Neutral rating. Mizuho predicted that global handset shipments will drop 4% year over year in 2026, with additional declines anticipated in the second half. This is due to memory constraints and pricing pressures. The downgrade came after an industry call on handsets.

On February 5, 2026, Reuters reported that QUALCOMM Incorporated (NASDAQ:QCOM) expected second-quarter revenue of $10.2 billion to $11 billion and adjusted earnings of $2.45 to $2.65 per share, both lower than LSEG projections. The firm attributed a global memory chip shortage to impacting smartphone users. After-hours trading saw a 9% decline in shares, which have now dropped more than 13% this year as of February 5, 2026. According to CEO Cristiano Amon, memory limits were the only reason for the projection failure. OEMs, especially in China, were cutting back on inventory as memory prices rose across the mobile device industry.

QUALCOMM Incorporated (NASDAQ:QCOM) develops and distributes semiconductors, software, and wireless technology solutions.

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Disclosure: None. This article is originally published at Insider Monkey.