UBS Lowers Qualcomm Price Target to $170, Reports 4% Year-on-Year Revenue Decline

July 30th, UBS Group: Lowered the target price of Qualcomm (QCOM.O) from $190 to $170. Qualcomm announced its Q3 2026 revenue after hours on Wednesday, with revenue of $9.95 billion, compared to $10.365 billion in the same period last year, a 4% year-on-year decrease, while the market was expecting $9.66 billion.

According to BIT (bit.com) market data, Qualcomm is currently down about 6% in pre-market trading, at $146.3.