QUALCOMM plummets 0.91% and stands at $141.18. The stock lost $1.29 since the previous close. The latest peak was in January of 2021 when the price reached the mark of $162.42. Despite the recent downgrade, the company is still in a better position than it was two years ago. With positive EPS of 6.98 and a beta score of 1.34, the firm is profitable and has a chance to jump higher (or lower) in the future. Qualcomm’s earnings have been declining in recent years due to the higher demand for a 5G wireless connection. As 5G wireless use grows, profit headwinds are lessening. Qualcomm generates profit from the production of integrated circuits and system software. The issue of QULCOMM is when clients bring their own chips, thus damaging the company’s licensing business.
According to FactSet, analysts anticipate Qualcomm’s profits per share to increase by 86% in 2021. After several years of setbacks, sales are expected to increase by 48% to $32.14 billion.
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