Qualcomm (QCOM) stock drops after Mizuho downgrade flags Apple modem risk
Qualcomm shares fell 2.3% Friday after Mizuho downgraded the stock and cut its price target to $175, citing handset weakness and a shrinking Apple modem business. The drop came despite gains in the broader chip sector. Investors await U.S. inflation data next week and Qualcomm’s earnings call on February 4.