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?
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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 €.
