Why Qualcomm Stock Is Falling Today
Shares of (NASDAQ: QCOM), a leading semiconductor designer and manufacturer, were falling today after the company reported its third-quarter financial results. While the company's revenue and earnings weren't all that bad for the quarter, Qualcomm issued weak guidance for the third quarter and said slowing smartphone demand was hurting its business.
The semiconductors stock was down by 6.5% as of 10:41 a.m. ET.
Qualcomm reported non-GAAP (adjusted) earnings per share of $2.15, which was down 33% from the year-ago quarter but matched analysts' consensus estimate for the quarter. The company's top line fell by 11% to $9.3 billion but was still higher than Wall Street's average estimate of $9.1 billion for the quarter.
Source Fool.com
Qualcomm Inc. Stock
€153.86
1.120%
The stock is one of the favorites of our community with 48 Buy predictions and 2 Sell predictions.
With a target price of 178 € there is a slightly positive potential of 15.69% for Qualcomm Inc. compared to the current price of 153.86 €.
