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Telecom & Wireless

Full 360-Degree Earnings Preview for Qualcomm (QCOM, ARMH, BRCM)

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By Jon C. Ogg Updated Published
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QUALCOMM Inc. (NASDAQ: QCOM) is now even closer to its 52-week high ahead of this afternoon’s expected earnings report. Shares are now around $59.15 and the 52-week range is $45.98 to $59.84.  Thomson Reuters has estimates of $0.90 EPS on $4.57 billion in revenues. Next quarter estimates are $0.89 EPS and $4.49 billion in sales.  Keep in mind that if it rallies much more than the current $98.8 billion market cap will be $100 billion.

We have now seen positive earnings out of ARM Holdings plc (NASDAQ: ARMH) Jim Cramer turned out to be very spot on when it came to his relative value tout in Broadcom Corporation (NASDAQ: BRCM) with its post-earnings reaction being up 7%.

Options traders are braced for a move of up to about $2.00 in either direction based upon the monthly expirations of puts and calls.

With the stock near a year high, the chart does not offer any great reads right now other than that the most recent support was around $57.25 and if the news is really unpleasant then the 50-day moving average is $55.37 and the 200-day moving average is $54.02.

Analysts still lean toward a ‘Buy’ consensus for their official ratings bias.  Thomson Reuters has a consensus target (mean target) of almost $66.00.

We would probably lean twoard waiting another quarter before expecting Qualcomm to boost its dividend, which has been the same for three consecutive quarters and currently offers investors a 1.5% yield.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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