Qualcomm: Don't Hang Up

The last time I wrote about Qualcomm (QCOM), I was bullish. For some reason, I thought QCOM was an $80 stock. But since my May article, the stock is up just 9%.

I thought a shortage for LTE chipsets would eventually translate to higher earnings and revenue for Qualcomm. Well, this quarter it did. For the quarter ending Dec. 30, revenue rose 28.6% to $6.02 billion. Net income jumped 36% to $1.91 billion. The company shipped 182 million mobile chipsets, up 17% year over year. Moreover management guided Q2 higher. The company now expects chipset shipments in the 163 million to 173 million range and revenues of $5.8-$6.3 billion. For fiscal 2013, management predicted revenue of $23-24 billion and earnings per share of $4.25-4.45....179 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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