Streetbeat News

QCOM

QUALCOMM Incorporated

https://www.qualcomm.com

Industry

Semiconductors

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products. The QTL segment grants licenses or provides rights to use portions of its intellectual property portfolio, which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing CDMA2000, WCDMA,LTE and/or OFDMA-based 5G standards and their derivatives. The QSI segment invests in early-stage companies in various industries, including 5G, artificial intelligence, automotive, consumer, enterprise, cloud, and IoT, and investment for supporting the design and introduction of new products and services for voice and data communications, new industries, and applications. It also provides development, and other services and related products to the United States government agencies and their contractors. QUALCOMM Incorporated was incorpotared in 1985 and is headquartered in San Diego, California.

Open

172.09

Mkt cap

190B

Volume

11M

High

173.45

P/E Ratio

21.86

52-wk high

230.63

Low

168.75

Div yield

0.02

52-wk low

120.97

The past week's earnings reports from companies like Tesla, Intel, and Texas Instruments were disappointing, affecting market sentiment. However, Netflix's strong performance provided some optimism. With 25% of S&P 500 companies having reported, 69% beat EPS estimates and 68% beat revenue estimates. The upcoming week is tech-heavy with earnings from Microsoft and Apple being highly anticipated, especially Microsoft's AI initiatives. FactSet expects six 'Mag 7' companies, excluding Tesla, to report a 53.7% year-over-year earnings growth for Q4. Energy sector earnings are also to be watched due to low crude oil prices. The SPDR S&P 500 ETF Trust (SPY) saw a slight premarket increase.

Portfolio Pulse from Shanthi Rexaline

January 29, 2024 | 10:51 am

Stocks showed mixed performance despite mild inflation data, with the S&P 500 and Nasdaq 100 slightly down, while the Dow Jones edged higher. Personal spending growth outpaced expectations, raising concerns about the Fed's interest rate policy. Bitcoin rallied after hitting 1 million active addresses. Tech stocks and semiconductors fell, with Intel's weak forecast impacting the sector. American Express surged on a strong outlook, while other companies had varied reactions to earnings reports.

Portfolio Pulse from Piero Cingari

January 26, 2024 | 6:18 pm

Sarat Sethi, Managing Partner at Douglas C. Lane & Associates, highlighted on CNBC's Last Call that '90s tech titans' like IBM, Oracle, Dell, and Intel have outperformed the 'Magnificent Seven' stocks in the past 90 days due to their robust cash flow growth. This trend is significant in the current high-interest rate environment, as cash flow is vital for operations and capital investments without relying on high-interest loans. IBM recently reported strong cash flow in its Q4 results, with $13.9 billion in net cash from operating activities. The Technology Select Sector SPDR Fund (XLK) fell slightly in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 26, 2024 | 12:12 pm

Broadcom Inc (NASDAQ:AVGO) stock reached a new all-time high of $1,284.55, driven by the semiconductor and AI boom. The stock has surged over 114% in the past year, outperforming the iShares Semiconductor ETF (NASDAQ:SOXX) and the S&P 500. Broadcom's strong financial performance and strategic positioning in the digital transformation market contribute to its success. Compared to peers like AMD (NASDAQ:AMD), NVIDIA (NASDAQ:NVDA), and Qualcomm (NASDAQ:QCOM), Broadcom offers better value with a forward P/E of 22.47. Analysts from Goldman Sachs and Cantor Fitzgerald have set price targets of $1,325 and $1,300, respectively, suggesting modest upside potential.

Portfolio Pulse from Surbhi Jain

January 25, 2024 | 3:17 pm

Cantor Fitzgerald's 2024 Outlook report for semiconductors, analyzed by C.J. Muse, indicates semiconductor revenues are currently below GDP trend but are expected to catch up and surpass it in 2024. The industry is set for a recovery, with an 18% growth projection for CY24, potentially exceeding 20%. Key growth areas include AI and Memory, with System-on-Chip companies playing a significant role. The SOX index has risen ~95% since its low in October 2022, and semiconductor fundamentals bottomed in Q2 2023, suggesting a strong year ahead for semiconductor stocks.

Portfolio Pulse from Surbhi Jain

January 23, 2024 | 9:26 pm

Analysts from Citi and Mizuho provided their insights on the semiconductor industry, highlighting their top stock picks and price targets. Citi's Christopher Danely is optimistic about the semiconductor market's recovery, particularly in DRAM, and reiterated Micron Technology as his top pick with a price target of $95. He also recommended AMD, Microchip Technology, Broadcom (AVGO), Analog Devices, ON Semiconductor, Qualcomm, and GlobalFoundries. Mizuho's Vijay Rakesh discussed the data center and AI supply chain, favoring Nvidia for its AI dominance and Intel for its upcoming product ramps. Rakesh also sees potential in AMD's AI competition and has Buy ratings on AMD, Broadcom, Intel, Micron, Nvidia, Seagate Technology, and Western Digital with respective price targets of $162, $1,250, $58, $100, $625, $100, and $62.

Portfolio Pulse from Anusuya Lahiri

January 23, 2024 | 9:25 pm

Cantor Fitzgerald initiated coverage on the semiconductor industry, predicting a 14% average upside for 18 stocks in 2024. Top picks include NVIDIA, Western Digital, ASML Holding, NXP Semiconductors, and GlobalFoundries, with projected upsides between 21% and 36%. Micron Technology, AMD, and Marvell Technology also have over 15% upside potential. However, Qualcomm, Teradyne, and Intel are rated neutral and expected to underperform. The semiconductor industry is in a cyclical recovery, with AI, PC/Smartphones, and Data Center/Networking sectors poised for gains. Cantor analyst C.J. Muse forecasts 18% growth in semiconductor revenues for 2024, with potential to exceed 20%.

Portfolio Pulse from Surbhi Jain

January 23, 2024 | 6:04 pm

On CNBC's Halftime Report, the final trades segment featured stock recommendations for Microsoft (MSFT) and QUALCOMM (QCOM).

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:00 pm

OnePlus has launched two new smartphones, the OnePlus 12 and OnePlus 12R, featuring Qualcomm's Snapdragon chipsets. The OnePlus 12 uses the Snapdragon 8 Gen 3 chipset and competes with Samsung's Galaxy S24 Ultra and Apple's iPhone 15 series, while the OnePlus 12R uses the older Snapdragon 8 Gen 2 chipset. The OnePlus 12 starts at $799 and the OnePlus 12R at $499, with sales starting on Feb 6 and Feb 13 respectively. The OnePlus 12 features a 6.82-inch Quad HD+ OLED display and supports 100W wired and 50W wireless charging, while the OnePlus 12R has a 6.78-inch Full HD+ OLED display and supports 100W wired charging.

Portfolio Pulse from Rounak Jain

January 23, 2024 | 3:03 pm

Carl Pei, co-founder of Nothing, thanked Elon Musk for featuring a Nothing phone in a Tesla Cybertruck advertisement. The cameo is significant as it coincides with the U.S. launch of the Nothing Phone (2), which is powered by Qualcomm's Snapdragon 8 Plus Gen 1 chipset. The endorsement from Musk could enhance Nothing's visibility in the U.S. market.

Portfolio Pulse from Rounak Jain

January 23, 2024 | 12:34 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.