Qualcomm: More Noise To Ignore
The quarterly results for Qualcomm include lots of noise including typical weak guidance for the wireless chip giant.
The company continues to use the strong balance sheet to reward shareholders including the recent 10% dividend hike.
The stock remains a buy at $50 with several business related catalysts supported on the downside by strong stock buybacks.
After the close on Wednesday, Qualcomm (NASDAQ:QCOM) did the standard beat and guide down for the next quarter. The stock traded down back to the key $50 threshold, but investors shouldn't necessarily lock onto the claimed weak guidance.
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