Qualcomm Shares Down 14 Over The Last Month

Qualcomm Q3 Earnings Preview: AI, Auto, Smartphones Top Items To Watch, Analyst Says

Qualcomm shares down 14% over the last month

Qualcomm (QCOM) is scheduled to report its fiscal third-quarter earnings on July 27, and analysts are watching closely for updates on the company's automotive, smartphone, and artificial intelligence (AI) businesses.

Analyst: Now we expect Qualcomm's earnings for the quarter to come in at $2.25 per share, up about 20% compared to last year

"We believe Qualcomm's strong position in mobile and automotive, as well as its growing AI business, should position the company to perform well despite the current economic headwinds," said KeyBanc Capital Markets analyst John Vinh in a note to clients.

Vinh noted that Qualcomm's automotive business is a key growth driver for the company, and he expects the company to provide an update on its progress in this area during its earnings call.

"Qualcomm has made significant progress in automotive, and we believe the company is well-positioned to capture market share in this growing market," Vinh said.

What Analysts Are Saying

Analysts are also watching closely for Qualcomm's smartphone business, which has been under pressure from the economic slowdown. However, some analysts believe that Qualcomm's strong position in 5G should help the company weather the storm.

"Qualcomm's smartphone business has been impacted by the economic slowdown, but we believe the company's strong position in 5G should help it to maintain market share," said Needham & Co. analyst Rajvindra Gill in a note to clients.

Gill also noted that Qualcomm's AI business is a promising new growth driver for the company.

"Qualcomm's AI business is still in its early stages, but we believe the company has the potential to be a leader in this market," Gill said.

Conclusion

Qualcomm is a leading player in the global semiconductor industry, and its earnings report will be closely watched by investors and analysts alike. The company's automotive, smartphone, and AI businesses are all key growth drivers, and investors will be looking for updates on the company's progress in these areas.