Jim Cramer Calls Qualcomm Going To $65 (QCOM)

QUALCOMM Inc. (NASDAQ: QCOM) is headed to $65.00 per share according to the Jim Cramer.  On tonight’s MAD MONEY on CNBC Cramer talked up the smartphone operational growth after the now $100 billion and then some in market capitalization managed to beat earnings and to raise its guidance.  In fact, the guidance was raised not just for the current quarter ahead.  The guidance was raised for all of 2012.

What is interesting about Cramer’s call is that it was for a shorter time period than the one-year horizon from traditional analysts.  In effect, it comes to about the same as what you used to see called “a trading buy” in the stock.  Otherwise, this $65.00 target would actually be considered a dud.  The consensus mean price target objective is $65.98 as of today.  Shares rose 5% in the after-hours to a new 52-week high of $62.56 against the 52-week trading range of $45.98 to $59.84. 

Qualcomm has seen more than 4.1 million shares trade in the after-hours session.