Qualcomm Stock Wavers After Solid Earnings. Chip Maker Is ‘Excited’ About AI Features for Phones.

#1. Strong Revenue Performance:

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#2. Optimistic AI Vision:

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#3. Stock Movement:

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#4. Earnings Beat:

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#5.Solid Financial Forecasts:

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#6. Global Handset Market Outlook:

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Stock Performance Comparison:

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Qualcomm Stock Wavers After Solid Earnings. Chip Maker Is ‘Excited’ About AI Features for Phones.

#1. Strong Revenue Performance:

Qualcomm reported higher-than-expected revenue for the December quarter, reaching $9.9 billion, surpassing analysts' predictions of $9.5 billion.

#2. Optimistic AI Vision:

The company expressed optimism about introducing advanced AI features on phones in the current year, aiming to enhance user experiences.

#3. Stock Movement:

Following the positive results, Qualcomm's stock initially rose by 1.7% to $148.51 on Wednesday, though it experienced a modest decline in after-hours trading.

#4. Earnings Beat:

Qualcomm's adjusted earnings for the quarter were $2.75 per share, exceeding Wall Street's consensus estimate of $2.37, according to FactSet.

#5.Solid Financial Forecasts:

Management provided solid financial forecasts, projecting revenue between $8.9 billion and $9.7 billion for the current quarter ending in March.

#6. Global Handset Market Outlook:

Qualcomm anticipates the global handset market to remain flat to slightly up in 2024, as indicated during the conference call with analysts and investors.

Stock Performance Comparison:

Over the past 12 months, Qualcomm's stock has shown a 7.3% increase, while the iShares Semiconductor exchange-traded fund (SOXX) has risen by 45%, reflecting Qualcomm's steady performance in the market.