20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
- JPMorgan analyst Samik Chatterjee lowered the price target on Qualcomm Inc (NASDAQ:QCOM) to $205 from $240 (39.5% upside) and kept an Overweight rating on the shares.
- The analyst moderated earnings estimates for Qualcomm, primarily led by a change to his QTL revenue estimates and slight moderation in both QCT revenue and margins.
- These changes' net effect leads Chatterjee to forecast earnings estimates above-consensus earnings in fiscal 2023 and 2024, although with modest risk to 2022 consensus.
- Chatterjee previously saw Qualcomm suffer due to the weakness in the smartphone market focused on the low- to mid-end Android market. However, it could fare better than its peer group due to its exposure to the high-end smartphone market, share gains with Android OEMs, and its diversification into non-smartphone markets.
- Qualcomm failed to win Facebook owner Meta Platforms Inc (NASDAQ:FB) as the flagship customer for Qualcomm's first AI data center chip, the AI 100.
- Price Action: QCOM shares traded lower by 2.57% at $149.80 in the market on the last check Tuesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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