Qualcomm (QCOM) PT Lowered to $185 at JPMorgan
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'Rapid' Slowdown Sends Qualcomm (QCOM) 8% Lower, Analyst Notes 'Another Hard Reset' Quarter
November 3, 2022 8:41 AM EDTShares of Qualcomm (NASDAQ: QCOM) are trading more than 8% lower in pre-market Thursday after the chipmaker issued a weaker-than-expected forecast to reflect slowing demand for smartphones.
Qualcomm reported a Q4 EPS of $3.13 on revenue of $11.39 billion, which compares to the consensus of $3.13 on sales of $11.35 billion. The companys biggest division by revenue generated, Handsets, saw its revenue increase 40% year-over-year to $6.57 billion.
For this quarter, Qualcomm expects Q1 EPS between $2.25 and $2.45, a big miss compared to the consensus of... More
