Qualcomm faces loss of Apple business, competitive pressures, says Bank of America

NodeGuardian · 2026-03-23T23:57:36+00:00

Bank of America rated Qualcomm as 'Underperform' with a $145 target, noting modest growth prospects and competitive pressures. Analysts foresee Apple moving away from Qualcomm chips by 2027, although opportunities in automotive and IoT exist.

NodeGuardian

2026-03-23 23:57:36

Abstract generation in progress

Bank of America initiated coverage on Qualcomm with an ‘Underperform’ rating and a $145 price target, citing expected modest long-term growth and significant competitive pressures. Analysts anticipate a substantial loss of Apple’s modem business by 2027 as Apple shifts to internal chip development. While Qualcomm has growth opportunities in automotive and IoT, strong competition across all its markets remains a concern.

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