So back in 1999 Qualcomm was a Nasdaq “star” we remember articles like this:
At the time the stock was around $500. The stock split 4 for 1 on the very next day after this article. The absolute price high came a few days later on January 3rd 2000 when it hit $100 in intraday trading. (Adjusted for 2 for 1 split in Aug. 2004)
Well fast forward to 2020 and today’s Qualcomm earnings have propelled it to finally reach new highs after two decades:
Qualcomm Inc. (QCOM)
Q3 profit dropped to $845 million or $0.74 per share from $2.15 billion or $1.75 per share last year
Adjusted earnings for the quarter were $982 million or $0.86 per share. Well above analysts expected earnings of $0.71 per share
Q3 revenues plunged 49.3% to $4.89 billion from $9.64 billion last year. Analysts had a consensus revenue estimate of $4.81 billion for the quarter
Expects Q4 adjusted earnings of $1.05 to $1.25 per share and revenues of $7.3 billion to $8.1 billion
The stock closed Wednesday at $93.03, up $1.58 or 1.73%
QC…
