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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