Qualcomm (QCOM) stock is oversold, says Morgan Stanley, which upgraded the wireless chip maker to overweight on Monday, with a price target of 75. Qualcomm stock was up more than 1% in afternoon trading in the stock market today, near 62.50. Qualcomm stock fell 3.8% Thursday and touched a two-year low of 60.83 after the company last Wednesday reported a big drop in fiscal Q3 earnings, gave a weak outlook and announced that it’s “aggressively
O ver half of U.S. iPhone owners have upgraded to the latest models, nearly twice the global average, according to a new survey by Consumer Intelligence Research Partners. Apple (AAPL) CEO Tim Cook last week said 27% of the iPhone installed base worldwide has moved to iPhone 6 series handsets. Cook presented the figure to show that Apple still has lots of room for growth in its iPhone business. But in the U.S., 52% of iPhone owners now have either an iPhone 6 or iPhone 6 Plus handset, CIRP reported Monday. “We suspect a much larger number of iPhone owners outside the U.S. remain possible upgraders, contributing to the 27% figure,” Mike Levin, partner and co-founder of CIRP, said in a statement. As of the end of June, 97 million iPhones were in use in the U.S., including 33 million iPhone 6 and 17 million iPhone…
Despite two price target hikes on Monday, Facebook (FB) is trading lower ahead of its earnings report after the close on Wednesday. SunTrust Robinson Humphrey raised its target from 100 to 125, while Raymond James boosted its target from 90 to 110. Facebook shares are currently trading around 95. Shares sank 2.3% in heavy volume in the stock market today in afternoon trading, erasing all of last week’s gains. But the stock is still extended from