KeyBanc has revised its stance on Qualcomm (QCOM), downgrading the company to Sector Weight from Overweight. This move stems from Qualcomm's position in the artificial intelligence (AI) landscape — which KeyBanc analyst John Vinh believes is less prominent in edge AI applications than previously thought.

Additionally, Vinh doesn't anticipate Qualcomm reaping benefits from any AI-driven replacement cycles in the immediate future.

Market Domination Hosts Julie Hyman and Josh Lipton break down the details.

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This post was written by Angel Smith