Qualcomm Exceeds Expectations In Q3: 5 Analysts Debate Impact Of Huawei Export Restrictions
Portfolio Pulse from Priya Nigam
Qualcomm reported higher-than-expected Q3 revenues and earnings, driven by strong performance in the Auto and IoT segments. Despite this, shares fell due to concerns over the impact of Huawei export restrictions. Analysts provided mixed ratings and price targets, highlighting both the company's strengths and challenges.
August 01, 2024 | 5:20 pm
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Apple's potential move away from Qualcomm modems could impact Qualcomm's future revenues. Reports suggest Apple's modem could debut in some iPhone 17 models next year.
Apple's potential shift to its own modems for future iPhone models could reduce Qualcomm's revenue from one of its key customers. This development adds to the challenges Qualcomm faces, contributing to a likely negative short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Qualcomm reported strong Q3 results, but shares fell due to concerns over Huawei export restrictions. Analysts provided mixed ratings and price targets, highlighting both strengths in Auto and IoT segments and challenges ahead.
Qualcomm's strong Q3 performance was overshadowed by concerns about the impact of Huawei export restrictions. Analysts' mixed ratings and price targets indicate uncertainty about the company's future performance, leading to a neutral short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100