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1年前
Analyst: Plenty of Tailwinds Blowing for Chip Stock
By: Schaeffer's Investment Research | January 12, 2024
• Calls were the popular choice leading up to today's bull note
The shares of semiconductor concern Qualcomm, Inc. (NASDAQ:QCOM) are 1.6% higher in premarket trading, pacing to open up above $141 after Citigroup upgraded the stock to "buy" from "neutral" and hiked its price target by $50 to $160.
The analyst raised its revenue and earnings per share (EPS) guidance on Qualcomm, citing inventory replenishment in the handset space that they believe will continue through the first quarter of 2024.
While the majority of analysts are already optimistic, there's still some room for an unwinding of pessimism. Of the covering brokerage firms, eight still rate QCOM a "hold" or worse.
Should today's positive premarket action hold strong, the stock will open at its highest level in weeks. It will also move above short-term pressure at its 20-day moving average and a recent ceiling at the $140 level. Still, it will take a few more percentage points for Qualcomm stock to conquer its 3.9% year-to-date deficit.
Over the last 10 weeks, bullish bets have been the popular choice amongst options traders. Those looking to place their bets should consider options, as QCOM sports attractively priced premium. This is per its Schaeffer's Volatility Index (SVI) of 22% that ranks in the low 5th percentile of its annual range, implying lower-than-usual volatility expectations are being priced in.
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1年前
Citi sees upside for Qualcomm earnings and guidance, initiates positive catalyst watch
By: Investing | January 12, 2024
Citi analysts launched a positive catalyst watch on Qualcomm (NASDAQ:QCOM) shares in a note Friday, also raising its rating to Buy from Neutral and its price target for the stock to $160 from $110 per share.
The bank explained that it expects upside to Qualcomm's print and guidance when it reports earnings, which is the basis for the 90-day positive catalyst watch.
"We believe the inventory replenishment in the handset end market should benefit both revenue and margins at Qualcomm," said the investment bank. "We expect the replenishment to continue at least through 1Q24, and Qualcomm should gain share at Samsung as well."
"We are raising our F24E revenue and EPS estimates from $37.5 billion and $7.61 to $38.5 billion and $8.16, and our F25E revenue and EPS estimates from $41.0 billion and $8.82 to $41.0 billion and $9.29, respectively," they added.
QCOM shares are up around 1.7% premarket, trading at $141.39 per share, adding to its more than 18% gain in the last 12 months.
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1年前
Qualcomm (QCOM) Stock's January Doldrums Could Be Starting
By: Schaeffer's Investment Research | January 3, 2024
• Plus, another 25 stocks to avoid this month
• QCOM doesn't have the best January performance track record
Chip stocks were all the rage in 2023 amid artificial intelligence (AI) advancements. While the sector still looks promising, there's one name in particular investors may want to avoid in early 2024. More specifically, Qualcomm Inc (NASDAQ:QCOM) has historically underperformed in January, and seems to be sticking to this trend so far today, last seen down 1.6% at $137.99.
Per data from Schaeffer's Senior Quantitative Analyst Rocky White, QCOM averaged a January loss of 3.3% over the past 10 years, and finished the month in the red seven of those times. A comparable move from the security's current perch would place it below $135.
Shares are today testing support from the 20-day moving average, which has been in place since early November, as they continue to pull back from their Dec. 28, 52-week high of $146.89. Qualcomm stock still sports an impressive 30.8% year-over-year lead.
An unwinding of optimism in the options pits could hurt QCOM. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), QCOM's 50-day call/put volume ratio of 2.01 ranks higher than 89% of readings from the past year.
Premiums are affordably priced, per the equity's Schaeffer's Volatility Index (SVI) of 24% that sits higher than just 10% of annual readings, meaning short-term options are pricing in lower-than-usual volatility expectations.
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1年前
Capital International Investors Sells 1,159,483 Shares of QUALCOMM Incorporated (QCOM)
By: MarketBeat | November 23, 2023
• Capital International Investors lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,946,380 shares of the wireless technology company's stock after selling 1,159,483 shares during the period. Capital International Investors owned 0.80% of QUALCOMM worth $1,064,840,000 at the end of the most recent reporting period...
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1年前
Qualcomm $QCOM a tale of 2 gaps now. Earnigns great, big gap and go, big gap from last report above. Will likely need to consolidate a bit before taking on that big gap above.
By: Options Mike | November 5, 2023
• $QCOM a tale of 2 gaps now. Earnigns great, big gap and go, big gap from last report above.
Will likely need to consolidate a bit before taking on that big gap above..
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1年前
Qualcomm (QCOM) projected to report further revenue decline in upcoming earnings
By: Investing | October 31, 2023
Semiconductor giant Qualcomm (NASDAQ:QCOM) is set to announce its earnings after market hours tomorrow, amid expectations of continued revenue decline. Analysts have projected a year-on-year (YoY) revenue decrease of 25.2% to $8.52 billion and adjusted earnings of $1.91 per share for this quarter. This anticipated decline contrasts with a 22.1% revenue increase in the same quarter last year.
In the previous quarter, Qualcomm reported a YoY revenue drop of 22.7% to $8.45 billion, missing analyst expectations by 0.66%. The company's operating margin also declined, and it provided disappointing revenue guidance for the next quarter. Most analysts have kept their estimates unchanged recently, suggesting they expect Qualcomm to remain on its current path – one that has seen it miss Wall Street's revenue estimates twice in the past two years.
Tech stocks have experienced declining investor sentiment since 2022, with an overall share price decline of 11.8%. Over the past month, Qualcomm's share price has fallen by 3.28%. The analyst price target for Qualcomm is $136.9, compared to its current share price of $107.46.
In comparison, Intel (NASDAQ:INTC)'s revenues fell by 7.69% YoY in the last quarter but beat analyst estimates by 4.12%, leading to a stock rise of 7.1%. Meanwhile, SMART's revenues dropped by 27.7%, missing estimates by 15.6% and causing a stock fall of 23.6%.
Amid these trends in the tech sector, generational shifts in the economy are leading to a surge in demand for cloud-native cybersecurity. This sector is witnessing a 70% YoY revenue growth and boasts best-in-class Software as a Service (SaaS) metrics.
InvestingPro Insights
According to InvestingPro's real-time data, Qualcomm's market cap stands at $120.34B USD with a P/E ratio of 14.02. Over the last twelve months as of Q3 2023, the company's revenue was $38.58B USD, indicating a decrease of 8.44%. The company's return on assets for the same period was an impressive 17.94%.
InvestingPro Tips reveal that Qualcomm has consistently raised its dividend for 21 consecutive years, a sign of financial stability and commitment to shareholder returns. The company operates with a high return on assets, demonstrating efficient use of its resources. Despite analysts anticipating a sales decline in the current year, Qualcomm remains a prominent player in the Semiconductors & Semiconductor Equipment industry.
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1年前
Qualcomm (QCOM) unveils new PC laptop chip with AI features for 2024
By: Investing | October 24, 2023
(Reuters) - Qualcomm (NASDAQ:QCOM) on Tuesday gave details about a chip for Microsoft (NASDAQ:MSFT) Windows-based laptops that it claims will be faster at some tasks than Apple (NASDAQ:AAPL)'s chips for Mac computers.
Qualcomm executives said that the company's new Snapdragon Elite X chip will be available in laptops starting next year and has been redesigned to better handle artificial intelligence tasks like summarizing emails, writing text and generating images.
The announcement comes a day after Reuters reported that Microsoft has encouraged Qualcomm, Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) to come up with new chips to handle a bevy of new AI features in Windows, the world's most popular PC operating system.
Qualcomm will be the first to market with a chip to challenge Apple, whose laptop and desktop computers have more than doubled their market share since the iPhone maker introduced custom-designed chips in 2020. The X Elite chip will be the San Diego, California firm's first to feature completely custom computing cores designed by a team of ex-Apple engineers it acquired for $1.4 billion in 2021.
Qualcomm claimed on Tuesday that the X Elite is faster than Apple's M2 Max chip at some tasks and more energy efficient than both Apple and Intel (NASDAQ:INTC) PC chips. But Qualcomm Senior Vice President Alex Katouzian said the biggest new feature is that the chip can handle artificial intelligence models with 13 billion parameters, a proxy measure of sophisticated for AI systems that generate text or images.
"These models can respond faster than what you and I can read," Katouzian said. "No one else in the world can do that" on a laptop, Katouzian added.
Francis Sideco, an analyst with TIRIAS Research, said that with companies such as Adobe (NASDAQ:ADBE) rolling out the ability to use AI to generate images for everything from real estate brochures to beer can labels, demand for laptops with AI capabilities will rise.
"You've got a lot of smaller businesses and individual designers and creators using these devices. They need that kind of capability," Sideco said.
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1年前
Google, Qualcomm partner for RISC-V based Snapdragon Wear chipset
By: Investing | October 17, 2023
In a strategic partnership, Google (NASDAQ:GOOGL) and Qualcomm (NASDAQ:QCOM) are jointly developing a RISC-V based Snapdragon Wear chipset, aiming to enhance the functionality of future Wear OS watches. The collaboration was disclosed on Tuesday and is expected to result in custom cores, superior performance, and low power consumption for the wearable devices.
This development comes on the heels of the Pixel Watch 2 launch, which is powered by Qualcomm’s Snapdragon W5 Gen 1 processor. As part of their joint venture, Google and Qualcomm are also working towards establishing a robust software ecosystem and compatible apps for the first commercial RISC-V powered Wear OS watches. However, no specific launch date for these products has been provided yet.
RISC-V is an open-source alternative to Arm architecture that could potentially lead to cost savings for consumers due to its open nature. Google's official support for RISC-V in Android, announced in December 2022, along with a roadmap for its implementation, suggests a shift towards this architecture in the tech industry.
The move by Qualcomm and Google appears to be a strategic response to potential changes in Arm's licensing model, which could require device manufacturers to pay royalties based on device value. This partnership signifies a significant stride in wearable tech advancement as it aims to expedite the smartwatch production process for Original Equipment Manufacturers (OEMs).
As revealed by The Next Web, Qualcomm's engineering of a RISC-V-based platform for Google's Wear OS will augment its Snapdragon Wear line that predominantly powers Wear OS devices. The innovative chip architecture of RISC-V brings performance and power advantages to wearable technology. Consequently, Qualcomm's Snapdragon Wear platform innovations are set to rapidly evolve the Wear OS ecosystem.
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1年前
Tech executive admits to $150 million scam in sale of Abreezio to Qualcomm
By: Investing | October 6, 2023
Ali Akbar Shokouhi, a primary investor in the tech firm Abreezio, pleaded guilty to money laundering on Thursday, acknowledging his part in a massive fraud involving the sale of Abreezio to Qualcomm (NASDAQ:QCOM) for over $150 million. The case was announced by the Office of the U.S. Attorney for the Southern District of California on Friday.
The U.S. Attorney's Office disclosed that Akbar Shokouhi, who they referred to as a "second technology executive," admitted in a plea agreement to a $150 million scam against Qualcomm. Working alongside co-defendant Karim Arabi, they manipulated several facets of Abreezio including its "name selection", "creation", and "development and marketing". They presented it as an "angel-funded" venture, furthering their deceit.
In a striking demonstration of their successful deception, despite the ruse, Qualcomm was prepared to pay "$180 million" for Abreezio. The duo even went as far as using an alias for Arabi in their "text messages". These details were revealed as part of Shokouhi's plea agreement, highlighting the extent of their fraudulent activities.
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1年前
Qualcomm (QCOM) executive sells shares amid ongoing insider trading trend
By: Investing.com | October 3, 2023
Alexander Rogers (NYSE:ROG), President QTL & Global Affairs at Qualcomm (NASDAQ:QCOM) Inc, sold 6,001 shares of the company on Monday. This transaction is the latest in a series of insider sell-offs that have occurred over the past year, during which Rogers has sold a total of 60,054 shares without making any purchases.
Rogers holds a significant role at Qualcomm, overseeing the company's global licensing business and managing relationships with regulators, governments, and customers worldwide. His recent share sell-off could be indicative of his personal investment strategy or his perspective on the company's future prospects.
Qualcomm Inc , a world leader in the development and commercialization of foundational technologies for the wireless industry, offers products and services for mobile devices and infrastructure. The company's portfolio includes semiconductors, system software, and related applications used across various industries such as automotive, computing, IoT, and healthcare.
Within the past year, Qualcomm has witnessed 10 insider sales and no insider purchases, potentially signaling a bearish sentiment within the company's higher ranks. It is crucial to note that insiders may sell shares due to personal reasons unrelated to the company's performance or prospects.
On Monday when Rogers sold his shares, Qualcomm's stock was trading at $110.4 per share, resulting in a market cap of $123.99 billion for the company. The stock's price-earnings ratio stands at 14.43, lower than both the industry median of 23.68 and Qualcomm's historical median price-earnings ratio. This suggests that the stock might be undervalued compared to its peers and its own historical performance.
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1年前
KG&L Capital Management LLC Reduces Stake in Qualcomm Inc. (QCOM)
By: MarketBeat | September 29, 2023
• KG&L Capital Management LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,979 shares of the wireless technology company's stock after selling 1,590 shares during the quarter. KG&L Capital Management LLC's holdings in QUALCOMM were worth $950,000 at the end of the most recent quarter...
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1年前
Qualcomm's Autotalks acquisition under UK regulator scrutiny
By: Investing.com | September 29, 2023
The U.K.'s Competition and Markets Authority (CMA) has expressed concerns over Qualcomm (NASDAQ:QCOM)'s planned acquisition of Israel-based auto chip maker Autotalks, indicating that the merger might significantly lessen competition within U.K. markets for goods and services. This development was communicated on Friday.
The CMA has invited comments on the transaction from any interested party, a move that precedes the initiation of a formal investigation. The regulator has not set a definitive deadline for these inputs yet.
The U.S. mobile-phone chip maker Qualcomm (NASDAQ:QCOM) had reached an agreement in May to acquire Autotalks. The move was intended to bolster Qualcomm's portfolio of Snapdragon chips for automakers. The financial details of the deal remain undisclosed.
According to InvestingPro data, Qualcomm has a market cap of $123.99 billion and operates with a P/E ratio of 14.48. The company has demonstrated a high return on assets, standing at 17.94% as of Q3 2023. Despite a revenue growth decline of -8.44% in the same period, Qualcomm remains a prominent player in the Semiconductors & Semiconductor Equipment industry.
The semiconductor company Qualcomm had announced on May 8 that its unit, Qualcomm Technologies, Inc., would be entering into a deal to acquire Autotalks, a fabless semiconductor firm.
InvestingPro Tips indicate that Qualcomm yields a high return on invested capital and has maintained its dividend payments for 21 consecutive years. These aspects of the company's performance suggest a strong financial position, which could be a key factor in its ongoing acquisition strategy.
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1年前
Qualcomm to unveil two variants of Snapdragon 8 Gen 3 chipset next month
By: Investing | September 25, 2023
In a series of recent developments, Qualcomm (NASDAQ:QCOM) is preparing to announce the Snapdragon 8 Gen 3 chipset at the upcoming Snapdragon Summit in Hawaii. The semiconductor giant plans to reveal two versions of the processor, according to leaked email conversations between Qualcomm and its partners, including Samsung (KS:005930). The documents were made public by South Korean blog gamma0burst on Monday.
The Snapdragon 8 Gen 3 chipset will arrive in two variants, both manufactured under Taiwan Semiconductor Manufacturing Company's (TSMC) process nodes. One will be produced using TSMC's 4nm N4P node, while the other, expected to be more powerful and energy-efficient, will use TSMC's enhanced 3nm N3E node.
The two variants are anticipated to have the same CPU combination structure. However, there could be notable differences in performance and power efficiency due to the different manufacturing processes used. This combination includes ARM's latest Cortex X4, Cortex A720, and Cortex A520 CPU cores.
Although both versions bear similar CPU combos, it remains uncertain whether they will be distinguished as non-Plus and Plus versions. This ambiguity arises from the fact that in 2022, Qualcomm launched the Snapdragon 8 Gen 1 and Snapdragon 8+ Gen 1 with identical CPU combinations.
The new processors are expected to offer improved efficiency and overheating prevention compared to their predecessors. The 3nm variant, in particular, is anticipated to be more powerful and energy-efficient due to its smaller feature set and transistors. Presently, Apple (NASDAQ:AAPL)'s A17 Pro is the only other 3nm mobile chip globally.
Unlike in 2022 when Qualcomm replaced the Snapdragon 8 Gen 1 with the Snapdragon 8+ Gen 1, the company plans to unveil both variants of the Snapdragon 8 Gen 3 chipset simultaneously this year. The launch event is scheduled for October 24 at the Snapdragon Summit in Hawaii.
As Qualcomm gears up for the release of the Snapdragon 8 Gen 3, it is expected to be a significant event for Android flagships in 2024. However, given past experiences, it could be an unpredictable journey for these flagships.
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1年前
SECO and Qualcomm join forces to launch new edge computing solutions for Industrial IoT
By: Investing.com | September 21, 2023
SECO S.p.A. (IOT.MI), an Italian high-tech company, has announced a strategic partnership with Qualcomm (NASDAQ:QCOM) Technologies International, Ltd. on Thursday. This collaboration aims to accelerate the development of new edge computing products for the Industrial IoT world, primarily designed for OEM customers.
The partnership will see SECO designated as a Qualcomm Technologies' IIoT design center partner. In this capacity, SECO will develop reference designs for off-the-shelf hardware solutions. The focus of this collaboration is the creation of a system-on-module (SOM) and a modular single-board computer (SBC), both of which will be included in SECO's standard edge computing solutions catalogue.
Qualcomm Technologies will provide support to SECO in the development of these products to expedite their time to market. This support includes technical assistance to facilitate the integration of Qualcomm components into SECO's new products.
Moreover, the partnership will enable custom designs for customers adopting Qualcomm Technologies chipsets, aiming to meet specific needs of companies in their respective vertical sectors. This design flexibility offers added value for companies looking to optimize their devices' performance through the implementation of IIoT applications.
SECO also plans to assist users of these solutions in connecting quickly to CLEA – its internally developed IoT platform. This platform enables functionalities such as machine learning and artificial intelligence applications in machines built for end users.
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1年前
Qualcomm's new platform aims to revolutionize home and business connectivity
By: Investing.com | September 20, 2023
Qualcomm (NASDAQ:QCOM) Technologies, a subsidiary of Qualcomm Inc ., unveiled its latest '10G Fiber Gateway Platform' and a cloud-based 'Service Defined' Wi-Fi solution on Wednesday. The company's new offerings aim to transform connectivity in homes and businesses, with commercial availability expected by summer 2024.
The 'Service Defined' Wi-Fi platform is designed to optimize the use of newly installed fiber optic cables and emerging technologies like Wi-Fi 7. It will provide a unified data flow management system that can adapt to various user activities, including gaming, streaming, and video conferencing. This technology will offer service providers unique orchestration and insights, improving subscriber experience. It will facilitate the provision of differentiated services optimized for various uses.
Moreover, Qualcomm's new platform promises to enhance the performance of wireless networks for service providers and enterprise customers. It will offer tools that can boost network performance by enabling service providers to manage network access to the home and Wi-Fi within the home concurrently. This integrated approach is expected to enhance the quality of service across the network.
Alongside its 'Service Defined' technology, Qualcomm's 10G Fiber Gateway will provide 10Gbps connectivity "to and through the home," using 10G Passive Optical Network (PON) tech and multi-gigabit Wi-Fi 7.
Ganesh Swaminathan, VP and GM of Qualcomm's wireless infrastructure and networking business, emphasized that the new platform would allow service providers to extend service level agreements to the Wi-Fi network. This means they can program the gateway to deliver precise services, potentially improving Wi-Fi connection performance in areas such as latency as network conditions change.
The company's new software-based Wi-Fi management platform is versatile enough to run on various access networks. These include fiber-to-the-premises (FTTP), hybrid fiber/coax (HFC)/DOCSIS, and fixed wireless access (FWA). Qualcomm's latest venture into the broadband gateway field is primarily focused on fiber.
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1年前
Qualcomm introduces new mid-range mobile processor, Snapdragon 7s Gen 2
By: Investing.com | September 18, 2023
Qualcomm (NASDAQ:QCOM) unveiled its latest mid-range mobile processor, the Snapdragon 7s Gen 2, on Monday. The new system-on-chip (SoC), despite its name, is confirmed to be less powerful than the Snapdragon 7 Gen 2. It is set to power the Redmi Note 13 Pro, which is slated for launch on September 21, 2023.
The Snapdragon 7s Gen 2 is built on the 4nm process technology, designed to provide a capable platform for phone manufacturers aiming for a lower budget than the Gen 8 chips. The central processing unit (CPU) of the 7s is less powerful than any other Snapdragon 7 series chip, and the image signal processor (ISP) is also not as impressive, indicating a slightly lower positioning overall.
The chipset supports up to 12GB LPDDR5 memory and UFS 4.0 storage. It comes equipped with the Snapdragon X62 5G modem with a peak rate of 2.9Gbps and support for 5G millimeter wave technology. The FastConnect 6700 connectivity platform is a step back from the 6900 on the Snapdragon 7+ Gen 2, while Bluetooth supported is capped at version 5.2.
The Snapdragon 7s Gen 2 also boasts Qualcomm Spectra's 12-bit ISP that allows for triple-camera simultaneous shooting, supporting up to a single camera of 200MP and enabling video capture at up to 4K resolution at a frame rate of 30 fps. The chipset also comes with the Snapdragon Listening technology for clear audio during calls and media consumption.
While Qualcomm did not officially release a timeframe in which we'll see devices with the new chipset, it is expected that many mid-range smartphones in the future will be powered by the Snapdragon 7s Gen 2, starting with the Note 13 Pro.
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