Qualcomm (QCOM) raises 3Q forecasts
By Yaser Anwar, CSC of Equity Investment Ideas
Qualcomm (QCOM) has been having good days after the second-largest maker of chips for mobile phones raised its fiscal third-quarter forecasts above Wall Street expectations on strong consumer demand.
QCOM said revenues for the quarter ending June 25 would come in at $1.91-$1.96 billion, as compared to the earlier guidance of $1.77-$1.87 billion.
Qualcomm has also raised its pro forma earnings forecast for the fiscal third quarter from 38¢-40¢ per share to 41¢-42¢ per share. The company raised its forecasts for the second time during the quarter, citing robust consumer demand for devices using third-generation WCDMA technology.
Qualcomm said that its fiscal third-quarter forecasts were based on a quarterly shipment of MSM chips, or modem chips for mobile phones, which is expected to increase to 55 million, as compared to 36 million in the year-ago quarter, aided by network upgrades by wireless operators for high-speed Internet access.
The hike in Qualcomm's forecasts follows a similar move by the company's larger competitor, Texas Instruments a few days ago.
http://www.equityinvestmentideas.blogspot.com/
Qualcomm (QCOM) has been having good days after the second-largest maker of chips for mobile phones raised its fiscal third-quarter forecasts above Wall Street expectations on strong consumer demand.
QCOM said revenues for the quarter ending June 25 would come in at $1.91-$1.96 billion, as compared to the earlier guidance of $1.77-$1.87 billion.
Qualcomm has also raised its pro forma earnings forecast for the fiscal third quarter from 38¢-40¢ per share to 41¢-42¢ per share. The company raised its forecasts for the second time during the quarter, citing robust consumer demand for devices using third-generation WCDMA technology.
Qualcomm said that its fiscal third-quarter forecasts were based on a quarterly shipment of MSM chips, or modem chips for mobile phones, which is expected to increase to 55 million, as compared to 36 million in the year-ago quarter, aided by network upgrades by wireless operators for high-speed Internet access.
The hike in Qualcomm's forecasts follows a similar move by the company's larger competitor, Texas Instruments a few days ago.
http://www.equityinvestmentideas.blogspot.com/
posted by douglas mcintyre at 5:42 AM
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