February 6, 2025
Analyst Bio:
Shares of Qualcomm Inc were trading lower on Thursday, despite the company reporting record revenues for its fiscal first quarter.
The company reported its quarterly results amid an exciting earnings season. Here are some key analyst takeaways.
Rosenblatt Securities On Qualcomm
Analyst Kevin Cassidy reaffirmed a Buy rating and price target of $250.
Qualcomm reported record revenue of $11.7 billion, up 18% year-on-year, and non-GAAP earnings of $3.41, up 24%, Cassidy said. QCT revenue jumped 36% year-on-year to a record $10.1 billion, "driven by premium Android handsets, record automotive revenue, and strong IoT growth," he added.
