Qualcomm Is Seeing Strong Smartphone Demand, but Is the Stock a Buy?
Qualcomm (NASDAQ: QCOM) shares fell despite the semiconductor company reporting robust fiscal first-quarter results and issuing upbeat guidance. The stock is up just over 15% over the past year as of this writing, but off about 28% from the high it hit in June.Let's dig into Qualcomm's results to see if this is a good opportunity to buy the stock on the dip.For the third quarter in a row, Qualcomm posted double-digit revenue growth, setting a new quarterly record in the process. For its fiscal Q1 ended Dec. 29, revenue jumped 17% to $11.67 billion, which easily topped the $10.93 billion consensus as compiled by LSEG. Continue reading
Qualcomm (NASDAQ: QCOM) shares fell despite the semiconductor company reporting robust fiscal first-quarter results and issuing upbeat guidance. The stock is up just over 15% over the past year as of this writing, but off about 28% from the high it hit in June.
Let's dig into Qualcomm's results to see if this is a good opportunity to buy the stock on the dip.
For the third quarter in a row, Qualcomm posted double-digit revenue growth, setting a new quarterly record in the process. For its fiscal Q1 ended Dec. 29, revenue jumped 17% to $11.67 billion, which easily topped the $10.93 billion consensus as compiled by LSEG.
