Qualcomm: Continues Surging Higher (Technical Analysis)


  • Qualcomm reported strong Q2 earnings, surpassing analyst expectations with adjusted per-share earnings of $2.44 and adjusted revenues of $9.39 billion.
  • The company’s handset sales and automotive segment showed strong growth rates, while IoT revenues shrank by 11%.
  • The stock’s surging bullish momentum could continue, based on technical indicators and positive quarterly earnings and investors should consider buying on short-term declines.

Qualcomm Office Building in San Diego, California


For the second quarter, QUALCOMM Incorporated (NASDAQ:QCOM) posted strong quarterly results, with adjusted per-share earnings of $2.44 (soundly surpassing analyst expectations of $2.32 per share) and adjusted revenues of $9.39 billion (modestly surpassing consensus estimates of $9.34 billion for the period).

Analyst’s Disclosure: I/we have a beneficial long position in the shares of QCOM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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