Qualcomm will report its Q2 results after today's closing bell, followed by a conference call at 16:45 ET.
The Capital IQ consensus expects the chipmaker to report an 11.3% yr/yr contraction in EPS to $0.71 on a 7.7% yr/yr decrease in revenue to $4.83 bln.
Two weeks ago, Qualcomm and Apple agreed to dismiss all litigation against one another and signed a six-year license agreement. The agreement, which included a payment from Apple to Qualcomm, lifted Qualcomm to levels not seen in more than 19 years. Qualcomm expects the settlement to increase EPS by $2.00.
The Q2 report will be watched closely for commentary regarding the ongoing roll-out of 5G technology.
TECHS:
Qualcomm trades at 15.7x forward earnings expectations, which represents a discount to:
Cirrus Logic (CRUS 47.74, +0.16, +0.3%)
Marvell Technology (MRVL 24.95, -0.07, -0.3%)
Maxim Integrated (MXIM 60.36, +0.36, +0.6%)
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