Qualcomm Is Healthier Than Hedge Fund Thinks

Qualcomm doesn’t need to slash and burn. It needs to invest in itself.

Don't slash and burn.

Photographer: Simon Dawson/Bloomberg

This week the hedge fund Jana Partners revealed a big position in Qualcomm and urged the company to break up, cut costs, buy back shares and replace a few directors -- the standard playbook for activist shareholders. But Qualcomm, the world’s leading mobile chipmaker, isn’t quite the typical activist target. And Jana’s proposals seemed to miss the mark.

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