Qualcomm Inc

QCOM: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$294.00	Trlchn	Xxhbdxlz

Qualcomm Earnings: Maintain $140 Valuation With a Recovery Across Android OEMs

Brian Colello

Feb 1, 2024

Narrow-moat Qualcomm reported solid fiscal first-quarter results that were ahead of our expectations while providing investors with a decent outlook for the March quarter, as Android-based smartphone demand remains on the road to recovery. We maintain our $140 fair value estimate and view shares as fairly valued.

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