Qualcomm Gears Up For Q2 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
QUALCOMM Incorporated (NASDAQ:QCOM) is set to release its Q2 fiscal 2024 earnings on May 1, with expectations of earnings per share at $2.17, up from $2.15 the previous year, and projected quarterly revenue of $8.72 billion. The company also announced a quarterly cash dividend of 85 cents per share. Shares fell 2% to close at $165.85 recently. Analysts have provided varied ratings and price targets, with the most accurate analysts suggesting a range from $177 to $205.
May 01, 2024 | 2:49 pm
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QUALCOMM is anticipated to report an increase in earnings per share and revenue for Q2 fiscal 2024, with a recent dividend announcement and a slight decrease in share price. Analysts have provided optimistic price targets.
The anticipation of increased earnings and revenue, combined with recent analyst upgrades and a dividend announcement, suggests a positive outlook for QCOM. However, the recent dip in share price indicates market volatility or cautious investor sentiment. Analysts' high price targets and positive ratings reflect confidence in the company's performance, potentially driving investor interest and positively impacting the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100