Where Will Qualcomm Stock Be in 1 Year?
's (NASDAQ: QCOM) stock jumped 4% during after-hours trading on Nov. 1 after the chipmaker posted its latest earnings report. For the fourth quarter of fiscal 2023, which ended on Sept. 24, its revenue declined 24% year over year to $8.67 billion but exceeded analysts' expectations by $150 million. Its adjusted earnings fell 35% to $2.02 per share, but they also cleared the consensus forecast by $0.11.
Qualcomm's slowdown wasn't surprising, since it's still heavily exposed to the cyclical downturn in smartphone sales. But could this out-of-favor chip stock rally again over the next 12 months as the smartphone market stabilizes?
Image source: Getty Images.
Source Fool.com
Qualcomm Inc. Aktie
143,30 €
0,13 %
Qualcomm Inc. wird von der Community leicht favorisiert: Mehr Buy- als Sell-Einschätzungen.
Ein Kursziel von 174 € für Qualcomm Inc. signalisiert eine potenzielle Steigerung von über 20% gegenüber dem aktuellen Kurs von 143.3 €.
