Qualcomm (QCOM) posted fiscal fourth-quarter earnings that exceeded analysts' expectations and announced a $15 billion stock buyback, driving shares higher after the closing bell Wednesday.
Donald Trump's second presidential win opened the market dams to a massive rally, led by a near 6% gain in the Russell 2000. Tesla (TSLA) and several crypto-related stocks surged as leaders during the trading day.
CNBC's Seema Mody joins 'Closing Bell Overtime' to talk Qualcomm earnings.
Qualcomm (QCOM) shares surge after better-than-expected 4Q numbers. The company announced a new $15B share buyback plan, along with guidance above street estimates.
Qualcomm is upping its buyback program by $15 billion after repurchasing more than $4 billion in stock last fiscal year.
Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and guided to a strong December quarter. The stock popped in extended trading.
Chip designer Qualcomm on Wednesday forecast sales and profit in the current quarter to come in above Wall Street estimates as the company tries to break into the personal computer market while it vies against rivals for a piece of a recovering smartphone market.
Qualcomm (QCOM) will report its fourth quarter earnings after the market closes Wednesday, and analysts expect rising revenue and profits compared to the same time last year. However, they see revenue growth slowing over the next year amid slow smartphone and PC sales.
Angelo Zino with CFRA looks into the earnings potential for Qualcomm (QCOM) and Arm Holdings (ARM). He believes Qualcomm is more of a "value play" but relies on the company's diversification strategy.
On November 5th, 2024, JP Morgan cut its price target for Qualcomm Inc (NASDAQ: QCOM) from $210 to $195, citing ongoing challenges in the smartphone market. Analyst Samik Chatterjee expressed concerns over fading inventory replenishments by Chinese smartphone OEMs, along with Qualcomm's lost revenue from Huawei and Apple's shift towards in-house modem chips.
With healthy revenue-generating potential driven by robust demand trends, QCOM appears to be a solid investment proposition.
QCOM is increasingly focusing on the seamless transition from a wireless communications firm for the mobile industry to a connected processor firm for the intelligent edge.