Qualcomm: Struggling To Turn The Corner
- Qualcomm reported mixed FQ2'23 results.
- The wireless chip leader guided to weak FQ3 numbers with revenues falling sequentially due to a lack of a recovery in China and weakness probably at Apple.
- Despite the current headwinds, QCOM stock is cheap trading at ~8x normalized earnings once the current handset correction ends.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »