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To: Return to Sender who wrote (94299)	4/30/2025 5:16:18 PM
From: Return to Sender	Respond to of 95420

DJ Qualcomm Reports Strong Earnings. Stock Falls on Outlook. -- Barrons.com 4:58 PM ET 4/30/25 \| Dow Jones By Tae Kim Qualcomm gave a slightly disappointing outlook for its current quarter. The maker of mobile processors and 5G wireless chipsets shares fell in after-hours trading. For the March quarter, the chip maker reported earnings per share of $2.85, compared to Wall Street's consensus estimate of $2.82, according to FactSet. Revenue came in at $10.8 billion, which was above analysts' expectations of $10.6 billion. But Qualcomm forecast a revenue range for the current quarter of $9.9 billion to $10.7 billion -- at the midpoint, that's slightly below the consensus of $10.33 billion. "As we navigate the current macroeconomic and trade environment, we remain focused on the critical factors we can control -- our leading technology roadmap, best-in-class product portfolio, strong customer relationships and operational efficiencies," Qualcomm CEO Cristiano Amon said in the release. Qualcomm shares fell as much as 6% following the press release. On Monday, Bernstein analyst Stacy Rasgon reiterated his Outperform rating on Qualcomm shares, citing low valuation. Rasgon has a $185 target for the stock. "The stock remains very cheap," he wrote. Qualcomm trades at a "40% discount to both the SOX [PHLX Semiconductor index] and S&P, one of the sharpest discounts in many years. In a world where uncertainty increasingly reigns this seems likely to help." Earlier this month, the Trump administration announced exemptions for some imported tech hardware products -- including smartphones, computers, and other items -- from the current tariff of 145% on China imports. However, chips and electronics are expected to be covered under a new sector tariff that will be announced in the coming weeks, officials have said. The analyst said the U.S. accounted for just 10% of global smartphone shipments, lowering the impact of any potential future tariffs to the company. Qualcomm stock is down 3% this year as of Wednesday's close, compared with the 15% decline for the iShares Semiconductor ETF. Write to Tae Kim at tae.kim@barrons.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. > Dow Jones Newswires April 30, 2025 16:58 ET (20:58 GMT) Copyright (c) 2025 Dow Jones & Company, Inc