Can Qualcomm Overcome The Challenge Of Elevated Inventory? 5 Analysts Deep Dive Into FQ3 Print, Outlook
Portfolio Pulse from Priya Nigam
Shares of Qualcomm Inc (NASDAQ:QCOM) plunged after the company announced weak guidance. Analysts from Susquehanna, KeyBanc Capital Markets, Canaccord Genuity Capital Markets, Oppenheimer, and Raymond James provided their insights on the company's performance and outlook. The analysts highlighted issues such as soft handset demand, macro headwinds, and channel inventory drain. However, they also noted Qualcomm's potential to diversify into other areas such as RF, Auto, IoT, and beyond.
August 04, 2023 | 1:46 pm
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NEUTRAL IMPACT
Apple's modem supply agreement with Qualcomm, which is set to expire in the back half of 2024, was not updated by the management.
The lack of update on Apple's modem supply agreement with Qualcomm, which is set to expire in 2024, could potentially impact both companies. However, the impact is not immediate and will depend on future developments.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Qualcomm's stock plunged due to weak guidance. Analysts highlighted issues such as soft handset demand, macro headwinds, and channel inventory drain.
The weak guidance announced by Qualcomm has led to a plunge in its stock price. Analysts have highlighted several issues such as soft handset demand, macro headwinds, and channel inventory drain, which are likely to impact the company's performance in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100