Qualcomm Inc

QCOM: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$811.00	Rnbqym	Rgwptzfjt

Qualcomm Earnings: Smartphone Demand Headwinds Persist, but Still Holding On to Market Share

Brian Colello

Aug 3, 2023

Qualcomm reported soft fiscal third-quarter results and provided investors with a similarly tepid outlook for the September quarter in the face of challenging business conditions associated with a muted smartphone market. We maintain our $140 fair value estimate for narrow-moat Qualcomm and view shares as slightly undervalued.

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