Wall Street analysts forecast that Qualcomm (QCOM) will report quarterly earnings of $2.68 per share in its upcoming release, pointing to a year-over-year increase of 15%. It is anticipated that revenues will amount to $10.36 billion, exhibiting an increase of 10.3% compared to the year-ago quarter.Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of th ...

Investment Rating - The report maintains a "Buy" rating for Qualcomm (QCOM.US) with a target price of $178.3, indicating a potential upside of 17.8% from the current price of $151.34 [1][5]. Core Views - Qualcomm's smartphone shipment forecast remains largely unchanged, with minimal impact from current tariffs and limited pre-purchase behavior from customers [1]. - For FY3Q25, Qualcomm expects smartphone revenue to grow by 10% year-over-year, driven by increased shipments of high-end Android phones and rising average selling prices [1]. - Automotive revenue is projected to increase by 20% year-over-year, benefiting from high adoption rates of smart cockpit technology in new energy vehicles in China [1]. - Internet of Things (IoT) revenue is anticipated to grow by 15%, supported by gains in high-end personal computers, industrial IoT growth, and surging demand for edge AI [1]. - Long-term growth potential in non-mobile business segments is significant, with expectations that non-mobile revenue will reach $22 billion by 2029 [1]. - Qualcomm's forward P/E ratio is currently at 12.7x, down from 15x at the beginning of the year, making it an attractive investment opportunity [1]. Financial Performance and Forecast - In FY2Q25, Qualcomm reported revenue of $10.98 billion, a 17% increase year-over-year, but a 6% decrease quarter-over-quarter, exceeding market expectations [2][10]. - Gross margin for FY2Q25 was 55.0%, slightly down from the previous year and quarter, primarily due to changes in product mix [2][10]. - Operating profit and net profit for FY2Q25 were $3.12 billion (up 33% year-over-year) and $2.81 billion (up 21% year-over-year), respectively, both slightly above market expectations [2][10]. - The guidance for FY3Q25 indicates a median revenue of $10.3 billion, representing a 10% year-over-year growth [2]. - The financial projections for FY2025 and FY2026 have been slightly adjusted based on FY2Q25 performance and FY3Q25 outlook [2][11]. Valuation - The report employs a DCF valuation method, assuming a growth rate of 12% for FY2030-FY2034 and a perpetual growth rate of 3%, with a WACC of 13.8% [3]. - The adjusted target price of $178.3 corresponds to a P/E ratio of 17.4x for FY2025 [3].

Core Insights - Qualcomm reported revenue of $10.84 billion for the quarter ended March 2025, reflecting a 15.4% increase year-over-year and a surprise of +1.55% over the Zacks Consensus Estimate of $10.67 billion [1] - The earnings per share (EPS) for the quarter was $2.85, up from $2.44 in the same quarter last year, with an EPS surprise of +0.71% compared to the consensus estimate of $2.83 [1] Revenue Breakdown - QCT Handsets revenue was $6.93 billion, exceeding the average estimate of $6.89 billion, representing a year-over-year increase of +12.1% [4] - QCT Automotive revenue reached $959 million, surpassing the average estimate of $889.52 million, marking a significant year-over-year growth of +59% [4] - QTL revenue was reported at $1.32 billion, slightly below the average estimate of $1.35 billion, with a minimal year-over-year change of +0.1% [4] - Total QCT revenue was $9.47 billion, exceeding the average estimate of $9.23 billion, indicating a year-over-year increase of +18% [4] - QCT IoT revenue was $1.58 billion, surpassing the average estimate of $1.45 billion, reflecting a year-over-year growth of +27.2% [4] Performance Metrics - Qualcomm's shares have returned -4% over the past month, compared to a -0.2% change in the Zacks S&P 500 composite [3] - The company currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

高通(QCOM.US)将于美东时间4月30日(周三)美股盘后公布截至3月的第二财季业绩。华尔街分析师预 测，高通Q2营收将同比增长13.3%至106.4亿美元，调整后的每股收益将同比增长15.6%至2.82美元。 当然，必须提及一个巨大的不确定性。在特朗普政府反复无常的关税政策的影响下，整个电子产品供应 链可能在未来几个季度遭受重击，这意味着身处其中的高通同样可能遭受打击。 投资者可能关注关税对高通带来的影响，因此会密切关注高通对未来业绩给出的指引。瑞银上周就曾表 示，高通可能会公布与预期相符的第二财季业绩，但鉴于该公司面临的不确定性，其业绩指引可能会较 为疲弱。瑞银分析师在一份报告中表示："我们预计，高通的业绩将与预期一致，但鉴于关税和宏观不 利因素将影响全球智能手机需求，我们预计该公司对截至6月的第三财季的指引将低于典型的季节性水 平，即环比下降低个位数百分比(市场预期为环比下降2%)。" 分析师补充称："总的来说，我们仍然对高通持观望态度，因为在手机业务下滑的情况下，高通的边缘 业务在很长一段时间内仍难以对冲其损失。同时，考虑到高通约66%的营收来自中国，手机业务还面临 关税相关不确定性的影响。" 按业 ...

In its upcoming report, Qualcomm (QCOM) is predicted by Wall Street analysts to post quarterly earnings of $2.82 per share, reflecting an increase of 15.6% compared to the same period last year. Revenues are forecasted to be $10.64 billion, representing a year-over-year increase of 13.3%.The current level reflects an upward revision of 1.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial pr ...