5 Qualcomm Analysts Highlight Q2 Results, Q3 Guidance: 'Solid Beat And Raise Amid Carnage Elsewhere In Smartphone Land'
Portfolio Pulse from Chris Katje
Qualcomm Inc (NASDAQ:QCOM) reported Q2 financial results, surpassing analyst estimates for revenue and earnings per share. Analysts from Cantor Fitzgerald, KeyBanc, Oppenheimer, JPMorgan, and Rosenblatt provided insights, highlighting Qualcomm's outperformance in China, leverage to premium smartphones, record automotive segment revenue, and potential in AI smartphones and PCs. Qualcomm's shares rose 9% to $179.35, reaching new 52-week highs.
May 02, 2024 | 3:21 pm
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Qualcomm's Q2 earnings beat estimates with strong performance in premium smartphones and automotive segments, alongside positive analyst ratings and raised price targets.
Qualcomm's earnings beat and positive guidance, coupled with analysts' bullish outlooks and raised price targets, suggest a strong short-term upward momentum for QCOM shares. The company's strategic positioning in AI, premium smartphones, and automotive segments, as highlighted by analysts, underpins its growth prospects and investor confidence.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100