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QCOM

Qualcomm

$50.17

0.78 (1.58%)

, AAPL

Apple

$165.23

10.6 (6.86%)

16:30
01/30/19
01/30
16:30
01/30/19
16:30

Qualcomm: Q1 QTL revenues do not include royalties on sales of Apple products

Management said, "Beginning in the third quarter of fiscal 2017, GAAP and Non-GAAP results have been negatively impacted by our dispute with Apple and its contract manufacturers (who are our licensees). QTL revenues in the first quarter of fiscal 2019 and in fiscal 2018 do not include royalties due on sales of Apple or other products by Apple's contract manufacturers. We expect the actions taken by these companies will continue until this dispute is resolved. QTL revenues in the first quarter of fiscal 2019 included $150 million of royalties due under an interim agreement with Huawei (who was previously disclosed as the other licensee in dispute). QTL revenues in the fourth quarter of fiscal 2018 included $100 million received under a prior interim agreement with Huawei. These amounts represented partial payments for royalties due by Huawei while negotiations continue, and they do not reflect the full amount of royalties due under the underlying license agreement. We did not record any revenues in the first quarter of fiscal 2018 for royalties due on the sales of Huawei's products. If we do not reach a final agreement with Huawei prior to the conclusion of the interim agreement, Huawei may not make any other payments or may not make full payments under the existing license agreement."

QCOM

Qualcomm

$50.17

0.78 (1.58%)

AAPL

Apple

$165.23

10.6 (6.86%)

  • 30

    Jan

QCOM Qualcomm
$50.17

0.78 (1.58%)

01/28/19
01/28/19
NO CHANGE

Lynx sees 'considerable downside risk' to Qualcomm shares at current levels
Lynx Equity Strategies analysts Jahanara Nissar and KC Rajkumar noted that Qualcomm (QCOM) management has stated that the adoption of 5G is priority number one and resolving the company's dispute with Apple (AAPL) is priority number two. They do not foresee Apple rolling out 5G iPhones this year and doubt it launches 5G iPhones in 2020, which they acknowledge is a non-consensus view. However, given this view, the analysts do not believe Qualcomm "could use 5G as a cudgel" to force Apple to settle their outstanding licensing dispute and contend that "without a settlement with [Apple], [Qualcomm's] 'optimistic scenario' EPS outlook of $6.75 to $7.50...goes out the door." Nissar and Rajkumar believe there is considerable downside risk to Qualcomm shares at current levels and have a price valuation of $41 on the stock.
01/17/19
SBSH
01/17/19
NO CHANGE
SBSH
On Semiconductor stocks, Citi says 'time to step in'
Citi analyst Christopher Danely says it is "time to step in" to shares of Semiconductors. Although he expects another cut to consensus estimates, he believes it will be smaller than the cut following the October quarter. This should be good for Semiconductor stocks and would indicate a bottom is forming with the worst cuts behind us, Danely tells investors in a research note previewing the sector's Q4 earnings. Less bad earnings reductions will be viewed positively given the "poor sentiment and the second derivative is improving," says the analyst. As such, Danely expects the stocks to rally during this earnings season. Names in the Semi space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN).
01/14/19
EVER
01/14/19
NO CHANGE
Target $60
EVER
In Line
Qualcomm price target cut to $60 from $68 at Evercore ISI
Evercore ISI analyst C.J. Muse cut his price target for Qualcomm (QCOM) to $60 from $68 and maintained an In Line rating, saying he expects to get clarity on the litigation with Apple (AAPL) early this year. Muse tells investors in a research note that a favorable outcome likely results in $5B in catch-up royalty payments, with $1.85B in Apple run-rate royalty payments, adding $1.30 to run-rate EPS, while an unfavorable outcome likely forces Qualcomm to license to other chipmakers and could lead to renegotiating license terms with major handset OEMs. Near-term, the analyst sees normal seasonality and weak smartphone markets pressuring units, and FX headwinds due to the strong dollar, which likely creates revenue headwinds into 1H.
01/03/19
ADAM
01/03/19
NO CHANGE
Target $75
ADAM
Buy
FTC case could lead to settlement between Qualcomm and Apple, says Canaccord
Canaccord analyst T. Michael Walkley said the upcoming FTC case is an important step in the process towards Qualcomm (QCOM) and Apple (AAPL) reaching a licensing settlement. The analyst noted that in a partial summary judgment, it required Qualcomm to license cellular standard-essential patents to the Alliance for Telecommunications Industry Standards, presenting potential risks to its licensing practices. Walkley maintains his Buy rating and $75 price target on Qualcomm shares.
AAPL Apple
$165.23

10.6 (6.86%)

01/30/19
OPCO
01/30/19
NO CHANGE
OPCO
Perform
Apple iPhone pricing should stay 'a major hurdle,' says Oppenheimer
Oppenheimer analyst Andrew Uerkwitz says that while Apple cited FX headwind again as one of the major culprits for emerging market weakness, management finally openly admits that iPhone price is another factor. The analyst is not sure such observation will eventually impact design and pricing considerations but believes pricing will stay "a major hurdle" if Apple chooses to protect hardware margin at 30%-plus. Longer term, Uerkwitz sees the least upside from service revenues in Greater China due to robust local Android ecosystem, formidable competition, and handicaps on in-house services from government regulations. The analyst reiterates a Perform rating on the shares.
01/30/19
BARD
01/30/19
NO CHANGE
Target $185
BARD
Outperform
Apple's 900M iPhone users key to positive thesis, says Baird
Baird analyst William Power said Apple's 900M iPhone users are a powerful Services driver and a key to his positive thesis on the stock. He noted the company's guidance hit his estimate, but missed consensus, adding that its Service gross margins looked strong. Power reiterated his Outperform rating and $185 price target on Apple shares.
01/30/19
WELS
01/30/19
NO CHANGE
Target $160
WELS
Market Perform
Apple's challenges in China will persist, says Wells Fargo
Wells Fargo analyst Aaron Rakers says shares of Apple are rallying post close on what he views as better-than-feared Q2 guide, and notes that the company expects continued iPhone weakness in Q2 driven by ongoing impacts from FX, slowing upgrades/lack of carrier subsidies, and battery replacement program. While the analyst considers Apple's incremental installed base and services disclosures/expansion to be a positive, he reiterates a Market Perform rating and $160 price target on the shares as he thinks Apple's challenges in China will persist.
01/30/19
RSBL
01/30/19
NO CHANGE
Target $150
RSBL
Neutral
Apple price target lowered to $150, no near-term catalysts, says Rosenblatt
Rosenblatt analyst Jun Zhang lowered Apple's price target to $150 from $165 and reiterated his Neutral rating. Zhang believes March quarter weakness is reflected in Apple valuation, but thinks there will be further headwinds this year from a slowing smartphone market, the transition to 5G from 4G, and the US-China trade war impacting iPhone sales. The analyst expects 2019 iPhone unit shipments to be down to 175M-180M versus 195M in 2018.

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CYRN

Cyren

$1.60

(0.00%)

21:32
06/25/19
06/25
21:32
06/25/19
21:32
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VEC

Vectrus

$38.28

-0.12 (-0.31%)

21:32
06/25/19
06/25
21:32
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21:32
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OSPN

OneSpan

$13.81

-0.38 (-2.68%)

21:32
06/25/19
06/25
21:32
06/25/19
21:32
Initiation
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CMBM

Cambium Networks

$0.00

(0.00%)

21:29
06/25/19
06/25
21:29
06/25/19
21:29
Syndicate
Cambium Networks 5.8M share IPO price $12.00 »

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  • 26

    Jun

VICI

VICI Properties

$21.80

-0.52 (-2.33%)

21:27
06/25/19
06/25
21:27
06/25/19
21:27
Syndicate
VICI Properties 100M share Secondary priced at $21.50 »

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20:25
06/25/19
06/25
20:25
06/25/19
20:25
Conference/Events
CLSA Asian tech analysts to hold an analyst/industry conference call »

Asian Technology Analysts…

GIS

General Mills

$53.70

0.04 (0.07%)

, PAYX

Paychex

$84.76

-1.41 (-1.64%)

20:25
06/25/19
06/25
20:25
06/25/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

GIS

General Mills

$53.70

0.04 (0.07%)

PAYX

Paychex

$84.76

-1.41 (-1.64%)

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BAX

Baxter

$81.71

-0.58 (-0.70%)

19:32
06/25/19
06/25
19:32
06/25/19
19:32
Initiation
Baxter initiated at KeyBanc »

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FB

Facebook

$188.87

-3.69 (-1.92%)

19:21
06/25/19
06/25
19:21
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19:21
Periodicals
Brazil court reduces fine for Facebook's refusal to share data, Reuters says »

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PCG

PG&E

$21.62

-0.02 (-0.09%)

19:01
06/25/19
06/25
19:01
06/25/19
19:01
Periodicals
PG&E bondholders seek control of utility's bankruptcy, SVBJ reports »

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KMI

Kinder Morgan

$20.58

-0.58 (-2.74%)

18:55
06/25/19
06/25
18:55
06/25/19
18:55
Hot Stocks
Kinder Morgan says 'very pleased' with Travis County District Court ruling »

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MU

Micron

$32.71

-0.47 (-1.42%)

, FDX

FedEx

$156.00

-4.88 (-3.03%)

18:37
06/25/19
06/25
18:37
06/25/19
18:37
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Micron…

MU

Micron

$32.71

-0.47 (-1.42%)

FDX

FedEx

$156.00

-4.88 (-3.03%)

AVAV

AeroVironment

$61.41

-0.52 (-0.84%)

GBT

Global Blood Therapeutics

$62.42

-0.87 (-1.37%)

03/08/13
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18:15
06/25/19
06/25
18:15
06/25/19
18:15
General news
Breaking General news story  »

St. Louis Federal Reserve…

CMCSA

Comcast

$42.75

-0.85 (-1.95%)

, CMCSK

Comcast

$0.00

(0.00%)

18:06
06/25/19
06/25
18:06
06/25/19
18:06
Periodicals
NBC to pull 'The Office' from Netflix in 2021, CNBC says »

Comcast's (CMCSA)…

CMCSA

Comcast

$42.75

-0.85 (-1.95%)

CMCSK

Comcast

$0.00

(0.00%)

NFLX

Netflix

$360.29

-10.72 (-2.89%)

03/08/13
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03/06/13
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  • 25

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FDX

FedEx

$156.00

-4.88 (-3.03%)

18:03
06/25/19
06/25
18:03
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18:03
Hot Stocks
FedEx says U.S. government placing burden on carriers with regulations »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

18:01
06/25/19
06/25
18:01
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18:01
Hot Stocks
FedEx says Huawei packages 'only peripherally' involved in U.S. lawsuit »

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QD

Qudian

$8.46

-0.275 (-3.15%)

18:00
06/25/19
06/25
18:00
06/25/19
18:00
Syndicate
Breaking Syndicate news story on Qudian »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

, AMZN

Amazon.com

$1,879.26

-34.17 (-1.79%)

17:57
06/25/19
06/25
17:57
06/25/19
17:57
Hot Stocks
Breaking Hot Stocks news story on FedEx, Amazon.com »

FedEx says loss of Amazon…

FDX

FedEx

$156.00

-4.88 (-3.03%)

AMZN

Amazon.com

$1,879.26

-34.17 (-1.79%)

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:56
06/25/19
06/25
17:56
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17:56
Hot Stocks
FedEx sees buyback level significantly lower in FY20 »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:51
06/25/19
06/25
17:51
06/25/19
17:51
Hot Stocks
FedEx says has made no pricing changes »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:46
06/25/19
06/25
17:46
06/25/19
17:46
Hot Stocks
FedEx says international commercial team still poised for growth »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:43
06/25/19
06/25
17:43
06/25/19
17:43
Hot Stocks
FedEx says global trade picture 'less than ideal' »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:38
06/25/19
06/25
17:38
06/25/19
17:38
Hot Stocks
FedEx calls FY20 a 'transition year' »

Says FY20 a…

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:37
06/25/19
06/25
17:37
06/25/19
17:37
Hot Stocks
FedEx says intends to substantially grow e-commerce business »

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CNX

CNX Resources

$6.83

-0.345 (-4.81%)

17:36
06/25/19
06/25
17:36
06/25/19
17:36
Hot Stocks
CNX Resources director Bernard Lanigan purchases 36,200 shares of company stock »

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