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Qualcomm (QCOM) got at least one downgrade and several price target cuts Thursday after the company slashed $1 billion from its revenue outlook for its fiscal 2015 ending Sept. 27. The San Diego-based chipmaker, however, late Wednesday reported a fiscal Q2 beat. CEO Steven Mollenkopf said the company would take a comprehensive look at its cost structure after losing business to “a large customer,” which analysts say is Samsung. FBR Capital Markets Scalper1 News
Scalper1 News