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Benzinga
Benzinga
Business
Adam Eckert

Are Qualcomm Shares Headed To $230? Why Jim Lebenthal Says It's 'Absolutely A Buy'

Qualcomm Jim Lebenthal QCOM Qualcomm Inc

Qualcomm Inc (NASDAQ:QCOM) is trading lower Thursday with the overall markets despite strong quarterly results and a flurry of price target hikes from analyst firms. 

What Happened: Qualcomm reported fiscal first-quarter revenue of $10.71 billion, beating the $10.42 billion estimate. The company earned $3.23 per share on an adjusted basis, which also exceeded estimates. 

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