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Is Qualcomm Stock a Buy Now?

TheMotleyFool

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Qualcomm (NASDAQ: QCOM) posted a solid second-quarter earnings report on April 27. The chipmaker's revenue rose 41% year over year to $11.2 billion, which beat analysts' estimates by $600 million. Its adjusted net income surged 68% to $3.7 billion, or $3.21 per share, which also cleared analysts' expectations by $0.29.

However, Qualcomm's stock only rose slightly following its earnings beat and remains down more than 20% this year. Should investors buy some shares of this growing chipmaker as the market looks the other way?

Image source: Getty Images.

Source Fool.com

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