- Qualcomm shares drop over 8% despite meeting quarterly expectations.
- Upcoming analyst day holds potential for additional insights.
- Analysts maintain a positive outlook with a significant potential upside.
Qualcomm (NASDAQ: QCOM) recently experienced an 8.24% decline in share price following the release of its quarterly earnings report. Interestingly, the results aligned with previous forecasts, catching some analysts by surprise. The company announced a promising rise in its automotive revenue stream but tempered expectations by forecasting it would only power 70% of the upcoming iPhone models, a figure that fell short of analyst projections. Investors and analysts are now keenly watching the company’s upcoming analyst day event for further strategic insights and potential catalysts.
Wall Street Analysts Forecast
According to the latest data compiled from 31 analysts, Qualcomm Inc (QCOM, Financial) has an average one-year price target of $182.42. Projections range from a high estimate of $270.00 to a low of $140.00, suggesting a potential upside of 30.47% from the current share price of $139.81. Investors interested in more granular data can explore the Qualcomm Inc (QCOM) Forecast page for further details.
The consensus recommendation from 41 brokerage firms currently rates Qualcomm Inc (QCOM, Financial) at 2.4, categorizing it as "Outperform." This rating is based on a scale ranging from 1 to 5, with 1 indicating a Strong Buy and 5 representing a Sell. These insights could be pivotal for investors seeking a balanced perspective on the company's market position.
GuruFocus's proprietary GF Value estimate posits that Qualcomm's value in one year is anticipated to be $160.70. This suggests a potential upside of 14.94% from the current price point of $139.81. The GF Value is derived from historical trading multiples, past business growth, and future performance estimates, making it a valuable metric for discerning investors. More comprehensive data and insights can be accessed through the Qualcomm Inc (QCOM, Financial) Summary page.
