JPMorgan Downgrades Qualcomm to Neutral and Places It on Negative Watch
JPMorgan has downgraded Qualcomm (QCOM) to Neutral from Overweight and placed it on negative catalyst watch, citing a forecasted low double-digit decline in smartphone shipments in 2026 and slow diversification progress. The downgrade highlights concerns about Qualcomm's reliance on its smartphone business and the limited near-term growth potential from its automotive and IoT segments.
Topics: analyst downgrade diversification JPMorgan Qualcomm smartphone market stock rating