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Qualcomm (NASDAQ:Qucom) plans to report its first-quarter results after the market close on Thursday, and the communications chip maker’s report comes amidst a mix of business updates from some of the top semiconductor companies. rice field.
Wall Street analysts now expect Qualcomm (Qucom) said it had earnings of $9.57 billion for the quarter ended December, earning $2.35 per share excluding one-time items. As part of that, Qualcomm (Qucom) said it estimated earnings of $2.25 to $2.45 per share on earnings in the range of $9.2 billion to $10 billion.
During the same period last year, Qualcomm (Qucom) earned $2.98 per share, excluding one-time items, on earnings of $10.7 billion.
Qualcomm (Qucom) describes the situation in the smartphone market. Smartphone shipments are expected to drop significantly in his final three months of 2022, with Qualcomm (Qucom) could be impacted by sluggish smartphone sales.
Qualcomm (Qucom) is one of its largest customers, Apple (AAPL), diversified into automotive systems and other business areas. Cowen analyst Matthew Ramsey said in his research report that he believes Qualcomm (Qucom) set a “conservative lower bound” for the following results at a recent analyst day, as it “aggressively removed the prominence of Apple modems.”
Seeking Alpha contributor Stone Fox Capital said in a recent Qualcomm assessment (Qucom) the investor “should” fear no more [the company] lose apple business.”
Wall Street analysts and Seeking Alpha authors now have a consensus buy rating for Qualcomm (Qcom) Stock. Seeking Alpha’s quant system has historically outperformed the stock market, but has been more conservative and Qualcomm’s (Qucom) Hold rating.
