We recently published 12 Stocks on Jim Cramer’s Radar. QUALCOMM Incorporated (NASDAQ:QCOM) is one of the stocks on Jim Cramer’s radar.
QUALCOMM Incorporated (NASDAQ:QCOM) is one of the largest semiconductor designers in the world. Its products are used in smartphones, cars, and other products. QUALCOMM Incorporated (NASDAQ:QCOM)’s shares are down by 18% over the past year and by 20% year-to-date. Cantor Fitzgerald discussed the firm ahead of its second-quarter earnings. It outlined that QUALCOMM Incorporated (NASDAQ:QCOM) could issue weaker-than-expected guidance due to concerns about Apple’s products and problems in the Chinese smartphone market. To wit, the firm guided $2.45 and $2.65 in adjusted earnings per share and revenue of $10.2 billion to $11 billion. Both of these sat below analyst estimates of $11.11 billion in revenue and earnings of $2.89 per share. Cramer also mentioned Apple as he commented on QUALCOMM Incorporated (NASDAQ:QCOM) following the earnings report:
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“They’re really hurt by memory, they’re like Sony. They don’t have a lot of memory and whoever has memory wins. Apple’s got memory, even though they don’t have as much, they complained on the call but they’re doing well.”
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Disclosure: None. This article is originally published at Insider Monkey.
