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- Rev. Al Sharpton’s Easter message: Politically ‘crucified’ Obama has risen again
- Supreme Court to weigh challenge to ban on campaign lies
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- Goodbye, Afghanistan — hello, Africa: Air Force to shift as U.S. exits Middle East
- Iran mulls ban on vasectomies, decrease on abortions to bolster population
- CNN op-ed claims right-wingers ‘more deadly than jihadists’
- Classes resume at high school rocked by stabbings
- ABC News accuses Center for Public Integrity of stealing Pulitzer-winning work
Ahead of the Bell: Qualcomm to report Wednesday
SAN DIEGO (AP) - Investors will be looking for Qualcomm Inc. to finally give them something to cheer about when the wireless technology bellwether reports fiscal third-quarter results after Wednesday’s market close.
Qualcomm’s shares closed Tuesday at $36.75, down 25 percent from a 52-week high of $48.99 on Jan. 8, even as consumers snap up smart phones that rely on its technology. The company, which makes phone chips and licenses its patented technology to other companies, has disappointed investors two straight quarters, with falling prices overshadowing growth of third-generation networks in China and elsewhere.
Investors will be looking for signs that phone prices have hit bottom. The average wholesale price slid to $192 earlier this year from $205 last year.
Investors surveyed by Thomson Reuters expect Qualcomm will earn 54 cents a share, excluding certain items, and post revenue of $2.63 billion.
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