Qualcomm (QCOM, Financial) experienced a significant stock price drop of 5%. The stock is currently trading at $164.52 per share with a trading volume of 5.80194 million shares, representing a turnover rate of 0.52% and a price fluctuation of 4.69%.
The company's recent financial report indicates revenue of $9.393 billion, net profit of $2.108 billion, earnings per share of $1.91, and a gross profit of $5.219 billion. The price-to-earnings ratio stands at 21.34. Among analysts, 61% rate the stock as a buy, 37% recommend holding, and 2% suggest selling.
In the semiconductor industry, where Qualcomm operates, there has been an overall decline of 2.33%. Some related stocks, such as Daqo New Energy, Smartkem Inc., and Texas Instruments, have shown significant gains, while Wolfspeed Inc., Smartkem Inc., and Daqo New Energy displayed high activity rates with turnover rates of 5.51%, 4.32%, and 3.70% respectively. Stocks like Sealsq Corp, Wisekey International Holding Ltd, and Wolfspeed Inc. saw high price fluctuations.
Qualcomm is renowned for developing and licensing wireless technology, and designing chips for smartphones. The company's patents are crucial to 3G, 4G, and 5G networks, and it provides cutting-edge processors to leading phone manufacturers. Qualcomm also offers RF front-end modules for smartphones and chips for automotive and IoT markets.
Recent reports indicate that Qualcomm and Arm are interested in acquiring Intel's product division. This potential acquisition comes as Intel faces significant challenges, raising regulatory concerns. Intel recently secured a multi-billion dollar long-term deal with Amazon.
