Qualcomm (QCOM) $175
Hold, waiting for a better price to add. Long Term story remains good.
Similar to Lam, there were a couple of weaknesses that erased yesterdays post market gains and then some.
Conservative commentary about the smartphone market for the rest of the year.
Lost its position in Huawei phones, it faces some challenges in the second half of CY24 as the Huawei loss will weigh on handset revenues.
Not enough visibility on AI PC’s revenue – there are 20 models launched, which may be positive surprise.
Management is conservative, which is a good thing.