Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Qualcomm Stock Just Ripped Higher: Here's Why

Stock Markets Jun 28, 2022 19:10
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Qualcomm Stock Just Ripped Higher: Here's Why

QUALCOMM Inc (NASDAQ: QCOM) shares are surging Tuesday afternoon after a TF Securities analyst posted a tweet suggesting Qualcomm (NASDAQ:QCOM) could remain the exclusive supplier of 5G chips for new iPhones due during the second half of 2023.

TF Securities analyst Ming-Chi Kuo suggested that Apple (NASDAQ:AAPL)'s iPhone 5G modem chip development may have been unsuccessful, citing his latest survey.

"Qualcomm's revenue and EPS in 2H23-1H24 will likely beat market consensus thanks to its sole supplier position for 5G chips of 2H23 new iPhones as Apple fails to replace Qualcomm," Kuo said in the tweet.

"I believe Apple will continue to develop its own 5G chips, but by the time Apple succeeds and can replace Qualcomm, Qualcomm's other new businesses should have grown enough to significantly offset the negative impacts caused by the order loss of iPhone 5G chips," he added.

See Also: Apple Mixed Reality Headset Could Feature The Powerful M2 Chip

QCOM Price Action: Qualcomm has traded between $193.58 and $118.22 over a 52-week period.

The stock was up 5.31% at $133.85 at press time, according to data from Benzinga Pro.

Photo: courtesy of Qualcomm.

Latest Ratings for QCOM

DateFirmActionFromTo
Feb 2022MizuhoMaintainsBuy
Feb 2022 Morgan Stanley (NYSE:MS)MaintainsOverweight
Feb 2022JP MorganMaintainsOverweight
View More Analyst Ratings for QCOM

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Qualcomm Stock Just Ripped Higher: Here's Why
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email