Is Qualcomm Stock a Buy Now?
Qualcomm (NASDAQ: QCOM) recently posted strong first-quarter numbers and rosy guidance for its second quarter on Feb. 2. The mobile chipmaker's revenue increased 30% year over year to $10.7 billion, which cleared estimates by $270 million. Its adjusted net income grew 47% to $3.7 billion, or $3.23 per share, which also topped expectations by $0.23.
For the second quarter, Qualcomm expects its revenue to grow 29%-39% year over year, and for its adjusted EPS to rise 47%-58%. Analysts had expected its revenue and adjusted EPS to improve by 20% and 31%, respectively.
Those numbers were rock-solid, but they didn't meaningfully boost Qualcomm's stock price -- which remains down 2% for the year as of this writing. Let's see if investors should pay more attention to this underappreciated chipmaker.
Source Fool.com
