Qualcomm is Outperforming the Chip Industry

Below is an important message from our trusted sponsors Tech stocks have been hard hit by the recent market dip. But Qualcomm (NASDAQ: QCOM) is breaking the trend. On the back of a strong earnings report, the stock has grown this week. Should you consider this tech pick in a volatile market? Supply chain issues and lower earnings have sent tech stocks tumbling. Qualcomm was vulnerable but has now made a comeback. The company released earnings data this week. Revenue increased 41% year over year, hitting $11.06 billion in the second fiscal quarter. Earnings per share were $3.21 adjusted. Analysts had predicted $2.91 per share. All the company's chip segments grew in the previous quarter. Handset chip sales were up 56%. 5G chip sales were up 28%. Automotive chip sales grew by 41%. IoT chip sales were up 61%. The company's performance shows robust demand for chips, especially in the mobile segment. It's important to note that the growth occurred even with global supply disruptions. The stock has momentum in the pre-market. The current growth is a good sign that the stock could hit its average $204.22 target within the next 12 months. Looking for the growth picks that buck trends? If you want to make better investment decisions these strategies are for you. The information above is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. The opinions are our own and we have not been compensated in any way to review the symbols mentioned above.  --------------------------------------------------------------- sponsored ads below --------------------------------------------------------------- Are you prepared? Free economic recession preparedness guide… All the basics to keep you protected during the next great recession! 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