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1. Qualcomm supercycle analysis
2. Qualcomm stock forecast
3. Qualcomm market trends
Qualcomm results suggest supercycle is on the horizon: Analyst
Qualcomm Inc. (QCOM) exceeded analyst expectations in its second-quarter earnings report, with adjusted earnings of $2.44 per share and revenue of $9.39 billion. Market Domination Overtime discussed the results with experts Kevin Cassidy and Patrick Moorhead. Moorhead highlighted Qualcomm’s automotive segment’s impressive backlog growth to $45 billion. He expressed optimism for a potential supercycle driven by Qualcomm’s new chips with enhanced AI capabilities. Cassidy also expressed relief at the results amid concerns of weakening demand in the Android sector. For more insights and market updates, watch the full episode of Market Domination Overtime. This post was authored by Angel Smith.
Qualcomm Inc. (QCOM) reported its second quarter earnings results, beating analyst estimates on the top and bottom lines. The semiconductor giant’s second quarter adjusted earnings were $2.44 per share, topping Street estimates of $2.32. Adjusted revenue of $9.39 billion was just slightly better than the $9.32 billion estimate.
Joining Market Domination Overtime to discuss the results are Rosenblatt Securities Managing Director and Senior Research Analyst Kevin Cassidy and Moor Insights & Strategy Founder, CEO, and Chief Analyst Patrick Moorhead.
While the quarter focused primarily on Qualcomm’s handset sales, Moorhead highlights the company’s automotive segment as “the biggest surprise” in the results. He notes that this sector witnessed a remarkable surge in its backlog, increasing from $30 billion to a staggering $45 billion over the course of 18 months, describing the feat as “pretty big.” Asked about AI’s implications, Moorhead says that with Qualcomm’s new chips featuring “supersized AI” capabilities, he is “very optimistic” that a supercycle could emerge in the latter half of the year.
Cassidy echoed Moorhead’s sentiment, describing Qualcomm’s results as “a relief” amid reports of weakening demand in the Android sector. He agrees with the notion of a potential supercycle, saying that Qualcomm’s unique features and applications could support such a development.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
This post was written by Angel Smith
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Qualcomm Inc. (QCOM) recently announced its second-quarter earnings results, surpassing analyst expectations on both the top and bottom lines. The semiconductor giant reported adjusted earnings of $2.44 per share, beating the Street’s estimate of $2.32. Additionally, Qualcomm’s adjusted revenue of $9.39 billion slightly exceeded the projected $9.32 billion.
During a discussion on Market Domination Overtime, Rosenblatt Securities Managing Director Kevin Cassidy and Moor Insights & Strategy Founder Patrick Moorhead shared their insights on Qualcomm’s performance. Moorhead highlighted the surprising growth in the company’s automotive segment, which experienced a significant backlog increase from $30 billion to $45 billion within 18 months. This development was described as “pretty big” by Moorhead, who also expressed optimism about a potential supercycle in the latter half of the year, driven by Qualcomm’s new chips with enhanced AI capabilities.
Cassidy echoed Moorhead’s sentiments, emphasizing Qualcomm’s unique features and applications that could support a supercycle despite concerns about weakening demand in the Android sector. Both analysts agreed that Qualcomm’s results were a relief and indicated the potential for significant growth in the near future.
For more in-depth analysis and the latest market trends, viewers can watch the full episode of Market Domination Overtime by clicking here.
In conclusion, Qualcomm’s strong second-quarter results suggest that a supercycle may be on the horizon, driven by the company’s innovative technologies and diversified product offerings. Analysts remain optimistic about Qualcomm’s growth prospects, particularly in the automotive sector, and believe that the company is well-positioned to capitalize on emerging opportunities in the market.
This article was written by Angel Smith, a contributor to Yahoo Finance. For more information and updates on Qualcomm and other market news, visit Yahoo Finance for the latest insights and analysis.
