Zacks Investment Research upgraded shares of Qualcomm Inc. (QCOM) from NEUTRAL to OUTPERFORM on February 20, 2012, with a target price of $75.00.
We upgrade our recommendation on Qualcomm Inc. to Outperform. During the last 12 months, the company continued its dream performance. Recently, it reported a record high first quarter of fiscal 2012 financial result. Net income was up 20% year over year and a massive 33% sequentially, indicating Qualcomm's operating efficiency. Management is quite confident that it will be able to maintain its current pace of top and bottom line growth for at least the next five years. There are primarily four reasons for this positive outlook: (1) gradual introduction of 4G LTE enabled mobile handsets in the developed markets of the U.S., Japan, and South Korea (2) massive growth of 3G smartphones in the emerging markets, particularly in China, where the company has a strong foothold (3) Qualcomm's growing association with Apple for its iPhones and iPADs and (4) a diversified product portfolio.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Qualcomm Inc. (QCOM),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment