Qualcomm Earnings Preview: Poised To Outperform Despite Chip Excess Concerns, Analyst Predicts
Portfolio Pulse from AJ Fabino
Qualcomm Inc (NASDAQ:QCOM) is set to issue Q3 fiscal 2023 earnings, with expectations of $1.81 per share on revenues of $8.51 billion. Despite concerns of chip excess and potential decrease in chip prices, JPMorgan analysts predict a brighter outlook for Qualcomm, citing early signs of recovery in the smartphone sector. They expect the company to issue earnings of $1.88 per share on revenues of $8.6 billion, beating the consensus estimate.
August 04, 2023 | 9:31 am
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NEUTRAL IMPACT
Amphenol Corporation's performance was cited as an indicator of recovery in the global smartphone market, which could positively impact Qualcomm's performance.
Amphenol's performance was mentioned in relation to the recovery of the smartphone market, which could indirectly impact its stock. However, the news is more directly related to Qualcomm.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
MediaTek Inc's performance was cited as an indicator of recovery in the global smartphone market, which could positively impact Qualcomm's performance.
MediaTek's performance was mentioned in relation to the recovery of the smartphone market, which could indirectly impact its stock. However, the news is more directly related to Qualcomm.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Qualcomm is expected to outperform investor expectations in its Q3 fiscal 2023 earnings, despite concerns of chip excess and potential decrease in chip prices. JPMorgan analysts predict earnings of $1.88 per share on revenues of $8.6 billion.
The news is directly about Qualcomm's upcoming earnings and the positive outlook from JPMorgan analysts. This could lead to increased investor confidence and potentially a short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100