Qualcomm Stock Chart Indicates Strong Bullish Trend, Analysts See Potential 15% Upside Ahead Of Q2 Earnings
Portfolio Pulse from Surbhi Jain
Qualcomm Inc (NASDAQ:QCOM) is showing a strong bullish trend ahead of its Q2 earnings report, with analysts predicting a 15% upside. The stock has significantly benefited from the AI wave, showing a 45% increase this year and a 16.32% return in 2024 so far. Technical indicators suggest continued bullish momentum, despite a negative MACD. Analyst consensus rates QCOM as a Buy with a target price of $140.31, while recent ratings from Benchmark, Evercore ISI Group, and Susquehanna set an average price target of $194.
April 30, 2024 | 4:45 pm
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Qualcomm Inc is poised for a bullish trend with a potential 15% upside according to analysts, ahead of its Q2 earnings. The stock has shown strong performance, benefiting from the AI wave.
The strong bullish trend indicated by technical analysis and the positive outlook from analysts suggest a potential upside for Qualcomm's stock. The anticipation of Q2 earnings and the stock's performance in the AI sector contribute to this optimistic view. However, the negative MACD indicates caution, but the overall sentiment remains positive.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100