Qualcomm

Qualcomm reported fiscal Q1 non-GAAP earnings Wednesday of $2.75 per diluted share, up from $2.37 a year earlier. Analysts polled by Capital IQ expected $2.37. Revenue in the quarter ended Dec. 24 rose to $9.92 billion from $9.46 billion a year earlier. Analysts surveyed by Capital IQ expected $9.52 billion. The company said it expects fiscal Q2 non-GAAP EPS of $2.20 to $2.40 on revenue of $8.9 billion to $9.7 billion. Analysts surveyed by Capital IQ project EPS of $2.24 on revenue of $9.3 billion.

By Denny Jacob Qualcomm logged better-than-expected revenue in the latest quarter, led by growth in handsets and automotive in its QCT segment. The mobile-phone chip maker posted net income of $2.77 billion, or $2.46 a share, for the fiscal first quarter ended Dec. 24, up from $2.24 billion, or $1.98 a share, a year earlier. Adjusted earnings were $2.75 a share, above analysts’ estimates of $2.37. Revenue increased 5% to $9.94 billion from $9.46 billion. Analysts polled by FactSet expected $9.51 billion. By segment, revenue in QCT grew 7% to $8.42 billion while QTL edged down 4% to $1.46 billion. QCT’s revenue streams consist of handsets, automotive and internet of things. Revenue in handsets and automotive grew 16% and 31%, respectively, from a year earlier, while IoT dived 32% during the same period. Qualcomm, which sells communication and data-processing chips crucial in phones from Apple and Samsung, forecast revenue between

Qualcomm Executive Said Company Extended License Agreement With Apple Through March 2027.

Qualcomm Said Anticipate Android Revenues Will Be Approximately Flat QoQ -Conf Call.

Qualcomm Said We Do Not Expect Any Material Change In Qualcomm Technology Licensing Revenue Run Rate As A Result Of Licensing Extensions.

By Emily Bary Stock dips after earnings as revenue forecast lies in line with expectations Qualcomm Inc. blew out quarterly profit estimates in its most recent report Wednesday, but its shares moved lower in choppy aftermarket action as the company’s revenue forecast merely met expectations at the midpoint. As artificial intelligence increasingly dominates the narrative for the chip sector, Qualcomm’s (QCOM) management said the company is among the beneficiaries of the AI wave. Chief Executive Cristiano Amon called out how the company’s Snapdragon technology features into the Samsung Galaxy S24 Ultra platform. That device has various on-device AI features, including translation. “This marks the beginning of how [generative AI] will evolve the overall smartphone experience and highlights the significant opportunity for Snapdragon platforms,” he said. The company is also seeing favorable AI smartphone trends with some of its Chinese customers, Amon added. “Eventually, at a minimum it’s going to have

The following is a summary of the QUALCOMM Incorporated (QCOM) Q1 2024 Earnings Call Transcript: Financial Performance: Qualcomm’s Q1 results exceeded expectations with revenues of $9.9 billion and an EPS of $2.75. Key drivers of revenue were QCT with $8.4 billion, due to demand for handsets and automotive, and QTL with $1.5 billion. Automotive revenues reached a record $598 million due to increased content in new vehicle launches. Returned $1.7 billion to shareholders via stock repurchases and dividends. Revenues from Chinese OEMs marked a 35% sequential growth, exceeding expectations. Business Progress: Snapdragon 8 Gen 3 established as the industry standard for on-device AI experiences in premium smartphones. Extended agreements with Samsung for Snapdragon platforms for flagship Galaxy smartphones, and with Apple until March 2027. 75 new vehicle models launched featuring Qualcomm’s tech, indicative of their growing role in the automotive sector. Prepares for launch of Snapdragon X Elite for next-gen

Qualcomm Inc (NASDAQ:QCOM), will be reporting its first-quarter earnings on Jan. 31. Wall Street expects $2.37 in EPS and $9.51 billion in revenues as the company reports after market hours. The San Diego-based company is poised to benefit significantly from the ongoing AI revolution and the resulting secular tailwinds. The convergence of AI technologies and mobile devices is expected to drive an upgrade cycle, and Qualcomm is well-positioned to capitalize on this trend. Qualcomm’s growth prospects extend beyond mobile devices, with substantial opportunities in the PC, automotive, and Internet of Things (IoT) sectors. Qualcomm’s reasonable valuation, coupled with its strong performance and competitive product releases, reinforces its position as a long-term buy. Here’s what analysts will be focusing on, and how the stock currently maps against Wall Street estimates. Qualcomm Investment Thesis The last fiscal quarter indicates positive momentum for Qualcomm’s business, with a notable increase in non-GAAP EPS and robust

Wells Fargo Adjusts Qualcomm Price Target to $120 From $110, Maintains Underweight Rating.

Qualcomm Announces Quarterly Cash Dividend SAN DIEGO–(BUSINESS WIRE)–January 19, 2024– Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.80 per common share, payable on March 21, 2024, to stockholders of record at the close of business on February 29, 2024.

Qualcomm (NASDAQ: QCOM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 15.33% Canaccord Genuity $152 → $175 Maintains Buy 01/18/2024 5.44% Rosenblatt → $160 Reiterates Buy → Buy 01/16/2024 2.15% Barclays $140 → $155 Maintains Overweight 01/16/2024 8.74% Keybanc $145 → $165 Maintains Overweight 01/12/2024 5.44% Citigroup → $160 Upgrades Neutral → Buy 12/08/2023 -13.01% Morgan Stanley $119 → $132 Downgrades Overweight → Equal-Weight 11/03/2023 -7.74% DZ Bank → $140 Upgrades Hold → Buy 11/02/2023 -7.74% JP Morgan $135 → $140 Maintains Overweight 11/02/2023 -7.74% Susquehanna $130 → $140 Maintains Positive 11/02/2023 -21.58% Morgan Stanley $129 → $119 Maintains Overweight 10/24/2023 -14.33% Susquehanna $140 → $130 Maintains Positive 09/14/2023 -4.44% Rosenblatt → $145 Reiterates Buy → Buy 09/14/2023 -4.44% Keybanc → $145 Reiterates Overweight → Overweight 09/12/2023 -34.1% Wells Fargo $95 → $100 Maintains Underweight 08/23/2023 -7.74% Mizuho → $140 Reiterates

Qualcomm (NASDAQ: QCOM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 10.75% Barclays $140 → $155 Maintains Overweight 01/16/2024 17.9% Keybanc $145 → $165 Maintains Overweight 01/12/2024 14.33% Citigroup → $160 Upgrades Neutral → Buy 12/08/2023 -5.68% Morgan Stanley $119 → $132 Downgrades Overweight → Equal-Weight 11/03/2023 0.04% DZ Bank → $140 Upgrades Hold → Buy 11/02/2023 0.04% JP Morgan $135 → $140 Maintains Overweight 11/02/2023 0.04% Susquehanna $130 → $140 Maintains Positive 11/02/2023 -14.97% Morgan Stanley $129 → $119 Maintains Overweight 10/24/2023 -7.11% Susquehanna $140 → $130 Maintains Positive 09/14/2023 3.61% Rosenblatt → $145 Reiterates Buy → Buy 09/14/2023 3.61% Keybanc → $145 Reiterates Overweight → Overweight 09/12/2023 -28.55% Wells Fargo $95 → $100 Maintains Underweight 08/23/2023 0.04% Mizuho → $140 Reiterates Buy → Buy 08/09/2023 -10.68% Daiwa Capital → $125 Downgrades Buy → Outperform 08/03/2023 0.04% Piper Sandler $120