Earnings Preview for Qualcomm (QCOM) 4Q 2011
October 29, 2011
Qualcomm (QCOM) is slated to report 4Q 2011 earnings after the close on Wednesday, November 2. The results are expected to come through at 4:00 p.m. EST, with a conference call slated to follow at 4:30 p.m. Qualcomm shares have meandered in a narrow range headed into the release. Enthusiasm stemming from the iPhone buzz is providing a lift, along with forecasts for increased 3G & CDMA demand, expansion in China, and expectations that smartphone demand will be robust into 2012. Despite the positive backdrop and upbeat sell-side sentiment (mean price target is about $64 with 35 Strong Buy/Buy ratings), Qualcomm has failed to hold the 200-Day SMA near $54…
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