Qualcomm (QCOM) Stock Analysis: Buy QCOM Stock After Earnings Miss?

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This evening Qualcomm (#QCOM​) announced their FQ1 earnings and missed analyst expectations. The company reported Non-GAAP EPS of $2.17 (beat by $.0.07) and revenue of $8.24B (miss by $20M). Although the company missed analyst estimates for their revenue, total revenue was up +62.7% Y/Y.

Since reporting #Qualcomm​ shares are down -7.58% in pre-market. The company also gave forward guidance when they reported and announced that they expect future revenue to be lighter than the current $8.2B that they announced tonight. Should investors buy shares of Qualcomm while it's down?

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Thanks to the Qualcomm website for the photo of CEO Steve Mollenkopf