Huoxing Finance reports that on July 30, UBS lowered its target price for Qualcomm (QCOM.O) from $190 to $170. Qualcomm reported third-quarter fiscal year 2026 revenue of $9.95 billion on Wednesday after hours, compared to $10.365 billion in the same period last year, a 4% year-over-year decline, against market expectations of $9.66 billion. According to BIT (bit.com) market data, Qualcomm shares are down approximately 6% in pre-market trading at $146.30.
UBS Lowers Qualcomm Target Price to $170 Following 4% Revenue Decline
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Summary
UBS lowered Qualcomm’s target price to $170 from $190 after the chipmaker reported a 4% revenue decline to $9.95 billion for Q3 2026. The result fell short of the expected $9.66 billion, causing shares to drop 6% to $146.30 in pre-market trading. Investors are now shifting their focus to altcoins amid mixed cryptocurrency price movements.
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