Qualcomm Stock Is Moving Lower Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Qualcomm (NASDAQ:QCOM) shares are trading lower following a downgrade from HSBC. The downgrade comes ahead of Qualcomm's earnings report on July 31, where the company is expected to report earnings of $2.25 per share and revenue of $9.212 billion. Despite the downgrade, other analysts have maintained or raised their price targets for Qualcomm. The company also announced a quarterly dividend of 85 cents per share.
July 17, 2024 | 3:22 pm
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Qualcomm shares are trading lower following a downgrade from HSBC ahead of its earnings report. Despite the downgrade, other analysts have maintained or raised their price targets. Qualcomm also announced a quarterly dividend.
The downgrade from HSBC is likely to have a negative short-term impact on Qualcomm's stock price, as reflected by the immediate 6.29% drop. However, the impact may be mitigated by positive ratings and raised price targets from other analysts, as well as the announcement of a quarterly dividend.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100