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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 178.29-1.6%Dec 12 9:30 AM EST
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From: RKnight7/28/2022 9:09:21 AM
21 Recommendations

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I know a lot of people here were hoping for a blowout quarter with great guidance and are disappointed that there isn't a large pop in the stock price. I get it. We all want to be richer quicker.

However, if you look at the results and guidance I don't think anyone needs to be worried about their investment. The focus on a "lowered forward guidance" misses the fact that the company is growing revenue and earnings at a very healthy rate in spite of an economic downturn and headwinds from inflation, COVID, and the war in Ukraine. These are all temporary issues. Given QCOM's growth rate during this period, I'm quite happy to be heavily invested in the company.

Here is a chart showing the predicted growth rate for the 4th quarter of this year using actual results from the 4th quarter of last year vs. the guidance provided for the 4th quarter of this year.



Comments:
QCOM has beaten estimates handily for the past several quarters. These figures are the worst case scenario in my opinion.

QTL revenues have been very stable. I expect that to not change much going forward. Perhaps if sales of smartphones pick up that will look better.

An almost 30% growth rate in this environment for a stock with a forward PE ratio of around 11 represents a very low risk/high reward investment.

The Q should have plenty of cash to cover yet another increase to its dividend next year while continuing to invest heavily in R&D and while delivering double digit growth rates.

All in all, I'm not disappointed at all.

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