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Ian Cooper

Qualcomm Missed Earnings Estimates But Says the Bottom Is Near. How to Play QCOM Stock Here.

Qualcomm QCOM Apple

Qualcomm (QCOM) reported mixed third-quarter earnings on July 29, which promptly sent shares of the tech giant even lower. However, it appears the worst of the worst has been priced into QCOM stock, with Qualcomm arguing that the latest quarter represents the bottom.

In its most recent quarter, Qualcomm posted adjusted EPS of $2.21, which was a penny below estimates. Revenue for the quarter slipped about 4% year-over-year (YOY) to $9.95 billion but still came in above estimates of $9.7 billion.

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