Qualcomm earnings: What to expect from the chip maker

Qualcomm Inc.’s stock will look to snap a streak of five straight post-earnings declines when the chip maker posts fiscal fourth-quarter results Wednesday afternoon.

Investors will be watching Qualcomm’s QCOM, +0.82% results for a read on the smartphone market as the company has been weighed down by sluggish trends there recently.smartphones look like we are at the bottom, and the company has been flushing out channel inventory for a year,” Bernstein analyst Stacy Rasgon wrote recently, while cheering the company’s product portfolio and edge artificial-intelligence story.What to expect Earnings: The FactSet consensus calls for $1.

Revenue: Analysts tracked by FactSet are modeling $8.5 billion in September-quarter revenue, down from $11.4 billion in revenue a year prior. Stock movement: Shares of Qualcomm have declined following each of the company’s past five earnings reports, and they saw a 8.2% drop after the most recent one. The stock has ticked about 1% lower over the course of 2023 to date, as the S&P 500 SPX has increased roughly 9%.

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