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Qualcomm's 2nd Fiscal Quarter Nets $5BN In GAAP Revenue

21 April 2017, 03:02 | Jan Cross

Qualcomm's 2nd Fiscal Quarter Nets $5BN In GAAP Revenue

QCOM stock chart

The median estimate represents a 0.41% increase from the last price. Wells Fargo & Co restated an "outperform" rating and issued a $75.00 target price (down previously from $80.00) on shares of QUALCOMM in a research report on Saturday, January 28th. They now have a Dollars 73 price target on the stock. Price targets frequently change, depending on the outlook for a company's earnings. BlackRock Fund Advisors now owns 21,432,143 shares of the wireless technology company's stock worth $1,468,102,000 after buying an additional 3,035,542 shares during the period. Jefferies Group LLC's price target indicates a potential upside of 48.26% from the company's previous close. Consensus earnings estimates are far from ideal, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock. Institutional investors own 79.28% of the company's stock. The value of device sales in the previous quarter rose more than expected, up 18 percent, helping boost licence revenues.

EPS growth in next year is estimated to reach 9.22% while EPS growth estimate for this year is set at 224.00%.

Qualcomm is still enjoying royalties despite lawsuits between the two companies past year which had Qualcomm investors fearing that the payments were entirely coming to an end. The analysts offering Earnings Estimates for the company were believing that QUALCOMM Incorporated (QCOM) could bring EPS of $1.18/share.

The wireless technology company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.01. Wall Street had been expecting earnings of $1.19 per share on $5.89 billion in revenue. The stock witnessed a loss of 13.7% compared with the industry's decline of 5.4%. "But we know these periods can generate added volatility in near term results and require open and regular dialogue with our investors".

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages. Angled up and price is moving up (or was recently) overall, angled down and price is moving down overall, moving sideways and the price is likely in a range. QUALCOMM, Inc. (NASDAQ:QCOM)'s highest estimates of price target are $81 and low forecast is $47.10 based on the opinion of 24 analysts.

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On Wednesday, Apple stock closed in at $140.68 after a fall of $0.52 0r 0.37% while Qualcomm stock closed at $52.61 after a fall $0.06 or 0.11%.Apple Inc (NASDAQ:AAPL) Paid Royalty Fees To Qualcomm Inc. The stock's current RSI reading is at 22.57. However the company observed 52 week high price on 10/27/16 and witnessed 52 week low price on 04/29/16. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2017/04/20/qualcomm-inc-qcom-lowered-to-sell-at-zacks-investment-research-updated.html. For the next quarter the company has anticipated average revenues of $5.94B, according to the sentiments of 21 analysts.

Macquarie Initiated its coverage for QUALCOMM Incorporated (QCOM) in a note sent to investors on 31-Mar-17. The firm bought 34,500 shares of the wireless technology company's stock, valued at approximately $2,249,000. Furthermore on Jan-24-17 the stock was "Downgraded" by Charter Equity from Buy to Mkt Perform.

A trend analysis is a method of analysis that allows traders to predict what will happen with a stock in the future.

Overall, the stock has an aggregate VGM Score of "A". Currently, QUALCOMM Incorporated net profit margin for the 12 months is at 20.55%.

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