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Qualcomm (#QCOM) is currently trading at $132.91, which is down -21% from highs that were made in December of 2020.
The semiconductor company reported FQ2 earnings last month and boasted solid numbers, ultimately beating analyst expectations with Q2 Non-GAAP EPS of ($1.90 beats by $0.23) and revenues of $7.94B (+52.7% Y/Y).
What appears to have the stock stalling is guidance. For Q3, #Qualcomm expects to see $$7.1-7.9B in revenue, which will put revenues at a decrease, or flat. This is the second quarter that revenues are guided to fall, or be flat, and many investors are being cautious.