Is Qualcomm Stock a Buy?
San Diego-based Qualcomm (NASDAQ: QCOM) is the world's largest maker of mobile chipsets and wireless modems. The company's stock has performed very well over the past 12 months, running up more than 70%.
Investors are wondering if the party can continue for Qualcomm through 2020. The company's earnings release on Feb. 5 indicated more growth is on the way as 5G devices are rolled out.
Qualcomm earned an adjusted $0.99 per share on sales of $5.08 billion for the first quarter of its fiscal 2020, which ended Dec. 29. Analysts had expected earnings of $0.85 per share, and Qualcomm delivered a 16.5% upside surprise. On a year-over-year basis, the company's earnings fell 17.5% while sales rose 5%. After seven straight quarters of decline, Qualcomm returned to sales growth in fiscal Q1.
Source Fool.com
