Nomura Securities Maintains a 'Neutral' on Qualcomm (QCOM); Q3 Preview

Nomura Securities maintains a 'Neutral' on Qualcomm (NASDAQ: QCOM), PT $53.

Nomura analyst, Romit Shah, said, "We expect Qualcomm to report at the high-end of the company’s F3Q guidance and above our estimate and consensus of $3.5bn/$0.68 and $3.5bn/$0.71, respectively. We expect the results to be driven by continued strength in the MSM shipments, 3G adoption and increasing overall handset ASPs. We expect the company to guide in line with the consensus ($3.8bn/$0.75) for the September quarter (F4Q). We are estimating F4Q revenue and EPS of $3.7bn/$0.72. While Qualcomm is well positioned, we believe this is reflected in the stock."

For more ratings news on Qualcomm click here and for the rating history of Qualcomm click here.

Shares of Qualcomm closed at $54.96 yesterday.

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