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?
Source Fool.com
Qualcomm Inc. Stock
The stock is one of the favorites of our community with 45 Buy predictions and 2 Sell predictions.
With a target price of 177 € there is a slightly positive potential of 13.32% for Qualcomm Inc. compared to the current price of 156.2 €.