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Qualcomm: Forecast Signals Global 5G Launch

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Qualcomm beat FQ4 analyst estimates that included sharp declines from last year.
The stock is jumping due to solid FQ1 guidance despite ongoing disputes with Huawei and missing Apple chip sales.
The company forecasts 200 million 5G device shipments in 2020.
At $90, the stock remains a bargain with a $6-7 EPS target before the benefit of the global 5G launch.
The quarterly results of Qualcomm (QCOM) remain extremely complex to analyze. The shifting payments of key license customers makes most of the results not comparable from period to period, but the stock is seeing a rally in initial trading following FQ4 results as the modem company sees a rebound in device shipments due to the 5G worldwide launch gaining major steam in FY20. The investment thesis remains bullish as the shift to 5G has considerable upside as the wireless giant will capture more content per smartphone.
Read the full article on Seeking Alpha. 
More commentary - Out Fox the $treet - November 11
Disclosure: Long QCOM, AAPL. Please review the disclaimer page of more details. 

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