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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.