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Qualcomm's Boom Begins! 🌟
Qualcomm's rally is heating up! 🚀 With strong earnings, bullish analyst ratings, and a solid market, this tech giant might be set for new highs. 📈 #InvestmentOpportunity
Stay ahead with deep financial insights! Pair Qualcomm's potential with The Daily Upside's razor-sharp market analysis – a must-read for smart investors. 📈 #InvestmentEdge
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Hold onto your hats!
Qualcomm (NASDAQ: QCOM), the California-based chip giant, is firing up for another potential breakout.
After a solid year, capped off with an all-time high in June, the stock dipped 35% by August—but here’s where things get exciting.
With a fresh earnings report lighting up investors' screens, there’s good reason to believe this tech titan is setting up for another big run.
Let’s dive into why Qualcomm might just be ready to sprint to new highs!
Qualcomm’s Stellar Earnings Report 🎉
Yesterday’s earnings release wasn’t just good—it was a game-changer!
Gif by friends on Giphy
Qualcomm crushed Wall Street’s revenue and earnings expectations, sparking smiles all around.
And it didn’t stop there.
The company rolled out a whopping $15 billion share buyback plan, plus raised its future guidance, all solid signs of a confident management team.
Qualcomm CEO Cristiano Amon wrapped it up best: “We are pleased to conclude the fiscal year with strong results in the fourth quarter, delivering greater than 30% year-over-year growth in EPS.”
Translation?
Qualcomm’s got momentum on its side.
Analyst Confidence is Growing 📈
Analysts are hopping on the Qualcomm train, and for good reason.
JPMorgan reiterated their Overweight rating, pointing to Qualcomm’s strong growth path, while Susquehanna maintained a $230 price target, hinting at a solid 35% upside.
Qualcomm’s ventures into 5G and the Internet of Things are especially promising.
With Investor Day set for November 19, Qualcomm has a golden opportunity to showcase its growth strategies.
For those looking to get in on the action, this event might just be the spark they need.
A Few Caution Flags 🏁
Not all analysts are waving the “Buy” flag.
Citigroup and Cantor Fitzgerald rated Qualcomm as Neutral recently, citing potential supply chain snags and competition as challenges to watch.
But with Qualcomm’s latest earnings surprise and forward-looking guidance, it’s fair to say some of these concerns might be easing.
Ready to Catch the Breakout Wave? 🌊
Technically speaking, Qualcomm’s chart is lighting up too.
QCOM’s Stock Chart from Tradingview
As of Thursday’s pre-market session, shares were up over 5%, hitting their highest level since before August’s dip.
And with the stock’s Relative Strength Index (RSI) sitting at a comfortable 54, there’s still plenty of room for growth if the breakout gathers steam.
Factor in a strong market environment, post-election optimism, and recent Fed rate cuts, and Qualcomm’s potential for upside looks brighter than ever.
The $230 target may not be as far-fetched as it once seemed!
Ready to Take Action? Here’s How to Get Involved!
So, what do you think?
Qualcomm is poised for growth, and now might be the perfect time to dive in.
Have you been eyeing Qualcomm or another tech stock lately?
Share your thoughts!
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Qualcomm’s Fiscal Q4 2024 results can be found here.
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