Qualcomm (NASDAQ:QCOM) is set to report earnings after the close today. First Call has $0.53 EPS and $2.26 Billion in revenues as consensus, with next quarter pegged at $0.52 EPS and $2.38 Billion revenues.
Options traders have expectations set for a move of up to $1.20 to $1.40 in either direction. The average analyst target from Wall Street analysts is still north of $53.00. Qualcomm’s chart has just gotten back within 1% of a key support level since the summer malaise, but it’s been range bound for the last month up until yesterday and today. The mid-October short interest was listed as 23.3 million shares, which is the lowest short interest reading since February 2007.
Earlier today this was one of only two tech stocks of the top ten in the NASDAQ 100 that was positive, but now shares are down almost 3% at $40.02.
After Broadcom (NASDAQ:BRCM) was destroyed after the last earnings and with so many unknowns in the ongoing legal fight, this one is too hard to try outguessing.
Jon C. Ogg
November 8, 2007
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
