Thu, Jul. 21, 3:00 PM
Thu, Jul. 21, 2:10 PM
- Qualcomm (QCOM +8%) reported EPS $0.19 above expectations and revenue +3.4% Y/Y of $6.03B.
- MSM chip shipments of 201M vs. 175M-195M expected. Though beating this quarter's estimates, this figure is down from the 225M MSM chips shipped in Q3 2015. The company guides chip shipments of 195M-215M and revenues of $5.4B - $6.2B for Q4.
- CEO Steve Mollenkopf cites headway with Chinese licensees and OEM growth in the Chinese market. Also notes investments in 5G and other technologies as a base for future earnings potential.
Thu, Jul. 21, 9:15 AM
Wed, Jul. 20, 5:42 PM
Wed, Jul. 20, 4:09 PM
Tue, Jul. 19, 5:35 PM
Tue, Jul. 12, 9:02 AM
Tue, Jul. 5, 10:18 AM
- Cirrus Logic (NASDAQ:CRUS) is off 7.4% and Skyworks Solutions (NASDAQ:SWKS) down 5.6% as Pacific Crest downgrades both to Sector Weight amid some disappointing iPhone supply chain forecasts.
- Qorvo (QRVO -5.5%) and InvenSense (INVN -5.1%) are down as well.
- Pac Crest has a fair value range of Cirrus Logic of $33-$36 (vs. its previous close of $38.04) and for $60-$67 on Skyworks (vs. previous close of $62.60).
- It also cut price targets on Analog Devices (ADI -1.7%) to $60 from $62 (7.7% upside); Broadcom (AVGO -2.5%) to $180 from $185 (19.7% upside) and Qualcomm (QCOM -1.3%) to $59 from $61 (12.8% upside).
- "Our lowered estimates reflect a much more disappointing second-half 2016 iPhone 7 ramp than what we had previously expected, as feedback from Asia indicates units are expected to be down 15% to 20% as compared to the iPhone 6s, as Apple appears to be taking a much more cautious view of the ramp," the analysts wrote.
Mon, Jul. 4, 7:39 AM| Mon, Jul. 4, 7:39 AM | 5 Comments
Thu, Jun. 30, 8:24 AM| Thu, Jun. 30, 8:24 AM | 15 Comments
Fri, Jun. 24, 5:56 AM
- Qualcomm (NASDAQ:QCOM) is filing a lawsuit in Beijing against Meizu Technology, the first major test of a hard-won agreement with the government there to allow it to enforce its right to charge fees for the use of technology.
- According to Qualcomm, the smartphone maker is refusing to pay it licensing fees that 100 other Chinese companies have already accepted and has also avoided negotiating in good faith.
Fri, Jun. 17, 12:30 PM
Fri, Jun. 10, 12:19 PM
- Backing up numerous analyst reports to the effect, Bloomberg reports Apple (NASDAQ:AAPL) will indeed partly use Intel (INTC +0.4%) 4G baseband modems in the iPhone 7.
- Bloomberg adds Intel's modems will be used within iPhones meant for AT&T's network, as well as in certain overseas markets. Those meant for Verizon's network will still rely on traditional baseband supplier Qualcomm's (QCOM -2.1%) chips, as will iPhones sold in China.
- In addition to sales of the modems themselves, a loss of share at Apple will likely affect sales of various complementary Qualcomm chips. iFixit's iPhone 6S teardown found Qualcomm power management, RF transceiver, and envelope tracking chips to go with a 4G modem. Altogether, Apple sold 231.5M iPhones in 2015.
Thu, Jun. 9, 8:27 AM
Wed, Jun. 8, 8:00 AM| Wed, Jun. 8, 8:00 AM | 25 Comments
Tue, May 24, 3:37 PM
- Xilinx (NASDAQ:XLNX) is up 5.9% this afternoon on heavy volume after a StreetInsider report saying the company has drawn a $15B takeover offer, but from a mystery suitor.
- The company has been considered the only large-cap chipmaker with the attributes of a good target, after Intel's purchase of Altera. Apple suppliers including Qualcomm (NASDAQ:QCOM) or Broadcom (NASDAQ:AVGO) are the most likely suitors for Xilinx.
- Xilinx used yesterday's analyst day to reiterate guidance for fiscal 2017 (sales growth of 4-8%, opex growth of 7-9%) and prompt strong bullishness from Pacific Crest. Analyst John Vinh sees the firm taking share in field-programmable gate arrays from Intel's Altera, which has faced delays and has "already lost at 20 nm and 14 nm."
- Xilinx is expecting $750M in incremental revenue over the next five years, a modest 6% in compound annual growth. "Of the $750 million, $500 million is expected to be from market expansion, while $250 million should be from PLD share gains. This would imply ~$3.25 in EPS, which at 20x suggests fair value of $65," Vinh writes.
- That $65 value would be 37% upside from today's (higher) price; Vinh has a price target of $55 (16% upside).
- William Blair's Anil Doradla thought the overall tone was good but "lacked conviction" and was light on comment about the company's key wireless/wireline segments. He's maintaining an Outperform rating.
QUALCOMM, Inc. engages in the development, design, manufacture, and marketing of digital telecommunications products and services. It operates through three segments: Qualcomm CDMA Technologies, Qualcomm Technology Licensing, and Qualcomm Strategic Initiatives. The Qualcomm CDMA Technologies... More
Industry: Communication Equipment
Country: United States
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