Here's How Qualcomm Stock Gained 16% in July

Shares of Qualcomm (NASDAQ: QCOM) rose 15.8% in July 2020, according to data from S&P Global Market Intelligence. The semiconductor giant trailed the market for most of the month until a strong third-quarter report turned the tables on July 30.

Adjusted third-quarter sales held steady at $4.89 billion while adjusted earnings rose 8% year over year to $0.86 per share. Your average Wall Street analyst would have settled for earnings near $0.71 per share on roughly $4.81 billion in top-line sales.

Qualcomm's stock closed 15% higher that day.

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Source Fool.com