Are Qualcomm's Cost-Cutting Efforts Reason Enough to Buy the Stock?
Not all semiconductor companies are enjoying the same momentum as Nvidia. Chip manufacturer (NASDAQ: QCOM) recently announced that it is laying off roughly 1,200 employees as part of an ongoing expense reduction program. With Qualcomm trimming its expenses while its cohorts invest in leading-edge artificial intelligence (AI) applications, some investors may wonder if it's time to move on.
Let's dig into why Qualcomm is trimming its expenses and how those cost savings may help the company return to accelerating top-line growth in the long run.
Qualcomm's revenue is declining and losses are mounting. Furthermore, unlike some of its cohorts, the company's forward guidance is not exactly giving investors a reason to cheer.
Source Fool.com
Qualcomm Inc. Stock
€166.88
-0.730%
The stock is one of the favorites of our community with 36 Buy predictions and 1 Sell predictions.
With a target price of 172 € there is a slightly positive potential of 3.07% for Qualcomm Inc. compared to the current price of 166.88 €.
