Short interest for Qualcomm gives investors a sense of the degree to which investors are betting on the decline of Qualcomm's stock. Short interest data is updated every two weeks.

Qualcomm Stock (NASDAQ:QCOM), Short Interest Report

Qualcomm

Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.

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U.S. chip export restrictions slightly impact Intel&#39;s forecast. The move signals broader market unease over semiconductor supply chains and escalating tensions with Huawei.

Intel Eyes Q2 Revenue Below Guidance Midpoint, Hit By US Ban On Huawei: Details

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The U.S. Commerce Department has revoked the licenses that allowed Intel and Qualcomm, among others, to export chips used in laptops and handsets to Huawei.

Intel, Qualcomm Export Licenses Revoked By US, Tech Giants Won&#39;t Be Able To Sell Chips To Huawei: Report (UPDATED)

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The Biden admin revoked export licenses to Intel and Qualcomm, escalating US efforts to curb Huawei&#39;s tech ascent due to national security concerns.

Biden Administration Tightens Grip On China&#39;s Huawei, Revokes Key Export Licenses From US Chipmakers

Qualcomm Inc

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) disclosed in a regulatory <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/50863/000005086324000086/intc-20240508.htm">filing </a>that it expects revenue for the second quarter of 2024 to remain in the original range of $12.5 billion to $13.5 billion but below the midpoint. The analyst view stands at $13.031 billion.
The move reflects the&nbsp;U.S. Department of Commerce revoking&nbsp;certain&nbsp;licenses for exports of consumer-related items to a customer in China.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/05/38682654/biden-administration-tightens-grip-on-chinas-huawei-revokes-key-export-licenses-from-us-chipmakers" rel="noreferrer noopener">Biden Administration Tightens Grip On&nbsp;China&#8217;s&nbsp;Huawei, Revokes Key Export Licenses From US Chipmakers</a>
For&nbsp;full year&nbsp;2024, the company continues to expect revenue and earnings per share to grow year-over-year compared to 2023.
Following the ban, the U.S. revoked licenses allowing Huawei to purchase semiconductors from Intel and Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), tightening export restrictions. Although the impact on chip sales volume might not be significant, it underscores the U.S. government&#8217;s commitment to limiting China&#8217;s access to semiconductor technology, reported <a href="https://www.bloomberg.com/news/articles/2024-05-08/intel-sees-revenue-falling-below-midpoint-after-us-huawei-ban?srnd=technology-vp&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">Bloomberg</a>.
The U.S. is contemplating sanctions against six Chinese firms suspected of supplying chips to Huawei, which has been under U.S. trade restrictions since 2019.
INTC&#8217;s&nbsp;stock decline was mirrored by Qualcomm,&nbsp;Advanced Micro Devices Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
This regulatory crackdown follows persistent concerns&nbsp;voiced by&nbsp;U.S. national security officials regarding&nbsp;Huawei&#8217;s&nbsp;involvement in facilitating cyber espionage activities, allegations that Huawei consistently denies.
The decision to revoke these licenses reflects broader U.S. anxieties about&nbsp;Huawei's&nbsp;capabilities in developing advanced technological&nbsp;components,&nbsp;despite previous restrictions.
Intel stock has lost over 3% in the last 12 months. Investors can gain access to the stock via&nbsp;First Trust Nasdaq Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and&nbsp;Strive U.S. Semiconductor ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Action:&nbsp;INTC shares are trading lower by 2.87% at $29.80&nbsp;at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

GOOGL

Senate Majority Leader Schumer Announces Upcoming AI 'Roadmap' To Be Translated Into Legislation

Qualcomm Confirms Report U.S Revokes Intel, Qualcomm's Export License To Sell To China's Huawei, Says 'We will continue to comply with all applicable export control regulations'

Editor's note: This story has been updated with Intel&#8217;s disclosure to the SEC regarding its revenue expectations for the second-quarter of 2024.
The United States has revoked the export licenses of Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) to sell chips to China&#8217;s Huawei Technologies Co Ltd.
What Happened: The U.S. Commerce Department has revoked the licenses that allowed Intel and Qualcomm, among others, to export chips used in laptops and handsets to Huawei, Reuters reported citing people familiar with the matter. The licenses were reportedly withdrawn with immediate effect.
The move comes after the recent launch of Huawei&#8217;s first AI-enabled laptop, the MateBook X Pro, powered by Intel&#8217;s new Core Ultra 9 processor. This launch drew criticism from Republican lawmakers, who suggested that the Commerce Department had approved Intel to sell the chip to Huawei.
&#8220;We have revoked certain licenses for exports to Huawei,&#8221; the Commerce Department said.
The Commerce Department&#8217;s decision, which was influenced by Republican China hawks in Congress, aims to strengthen U.S. national security and limit China&#8217;s technological advancements, according to the report.
&#8220;This action will bolster U.S. national security, protect American ingenuity, and diminish Communist China's ability to advance its technology,&#8221; Rep. Elise Stefanik (R-NY) said.
See Also: <a href="https://www.benzinga.com/news/24/05/38632767/ex-doj-attorney-says-former-trump-aides-testimony-sinks-ex-presidents-criminal-defense-big-fat-nail?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ex-DOJ Attorney Says Former Trump Aide&#8217;s Testimony Sinks Ex-President&#8217;s Criminal Defense: &#8216;Big Fat Nail In The Coffin&#8217;</a>
The revocation of these licenses could have a significant impact on Huawei, which heavily relies on Intel chips for its laptops, as well as on U.S. suppliers doing business with the company.
In their latest disclosure with the SEC, Intel mentioned that the revoking of licenses might take a slight hit on the revenue.
&#8220;As a result, the Company expects revenue for the second quarter of 2024 to remain in the original range of $12.5 billion to $13.5 billion, but below the midpoint. For full year 2024, the Company continues to expect revenue and earnings per share to grow year-over-year compared to 2023,&#8221; the filing read.
Intel and Qualcomm did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The U.S. has been actively implementing measures to restrict China&#8217;s access to advanced chip technology. Despite these efforts, Chinese entities have reportedly <a href="https://www.benzinga.com/markets/asia/24/04/38369354/nvidias-high-end-chips-ended-up-in-chinese-hands-despite-us-ban-heres-how-beijing-scored-them">managed to acquire</a> high-end NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips through third-party vendors.
In March, the U.S. government announced plans to release a list of Chinese chipmaking facilities that would be <a href="https://www.benzinga.com/news/24/03/38001201/us-to-unveil-list-of-chinese-chip-factories-banned-from-receiving-key-tech-report">prohibited from receiving crucial tools</a>, a move that could significantly impact the global semiconductor industry.
Despite these tensions, China remains a crucial market for U.S. semiconductor firms, with companies like Intel, Qualcomm, and Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) <a href="https://www.benzinga.com/news/24/04/38219726/despite-us-china-tensions-beijing-remains-crucial-market-for-nvidia-intel-and-other-american-chipmak">reporting greater revenues</a> from China than from the U.S..
Read Next: <a href="https://www.benzinga.com/news/24/05/38661657/trumps-niece-says-ex-presidents-support-within-party-waning-after-republican-defectors-bold-move-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President&#8217;s Support Within Party Waning After Republican Defector&#8217;s Bold Move To Biden Camp: &#8216;Sign Of More Good Things To Come&#8217;</a>
Image Via Shutterstock
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Intel, Qualcomm Export Licenses Revoked By US, Tech Giants Won't Be Able To Sell Chips To Huawei: Report (UPDATED)

The Biden administration has revoked export licenses that previously allowed major American semiconductor manufacturers, Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), to supply <a href="https://www.benzinga.com/topic/semiconductors">essential chips to Huawei. </a>
This decision, as confirmed by the Commerce Department to the <a href="https://www.ft.com/content/cf965960-b083-49ee-bae1-6ce95fe872a3">Financial Times</a> on Tuesday, marks a pivotal escalation in the U.S. strategy to curb the technological ascent of the Chinese telecommunications equipment powerhouse.
National Security Concerns At The Forefront
This regulatory crackdown follows persistent concerns voiced by U.S. national security officials regarding Huawei's involvement in facilitating cyber espionage activities, allegations that Huawei consistently denies.
The tightening of restrictions also responds to pressures from Republican lawmakers who have advocated for a more stringent approach toward the Chinese firm. Key political figures, including Marco Rubio (R-FL), vice-chair of the Senate Intelligence Committee, and Rep. Elise Stefanik (R-NY), have explicitly urged for such measures in recent communications with U.S. Commerce Secretary Gina Raimondo.
The decision to revoke these licenses reflects broader U.S. anxieties about Huawei&#8217;s capabilities in developing advanced technological components, despite previous restrictions. Huawei's recent unveiling of the Mate 60 Pro smartphone, equipped with sophisticated chip technology, has particularly alarmed U.S. officials. 
Market Reactions: Following the Commerce Department&#8217;s decision, shares of Qualcomm and Intel saw a dip, each falling by about 1% on Tuesday.
The broader iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) retreated 0.8%, snapping three straight sessions of gains. 
Chart: Qualcomm, Intel End Tuesday Session At Intraday Lows
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07155759/image-45-1024x495.png" alt="" class="wp-image-327030" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07155759/image-45-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07155759/image-45-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07155759/image-45-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07155759/image-45-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07155759/image-45.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Other U.S. chipmakers may also be affected by the renewed export restrictions to the Chinese tech powerhouse. 
Other than Intel and Qualcomm, major technology firms such as Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are also listed as U.S. suppliers to Huawei, according to an infographics shared by Reuters. 
Notably, smaller players like Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>) and Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) are substantially reliant on Huawei, with approximately 11% of their total revenue stemming from orders from the Chinese tech giant.
Read now: <a href="https://www.benzinga.com/markets/equities/24/04/38459947/as-us-tightens-screws-on-nvidia-intel-chip-exports-to-china-huaweis-latest-phone-uses-made-in-ch">As US Tightens Screws On Nvidia, Intel Chip Exports To China, Huawei&#8217;s Latest Phone Uses Made-In-China Chipset</a>
Photo: Shutterstock

Biden Administration Tightens Grip On China's Huawei, Revokes Key Export Licenses From US Chipmakers

<a href="https://www.ft.com/content/cf965960-b083-49ee-bae1-6ce95fe872a3" title="https://www.ft.com/content/cf965960-b083-49ee-bae1-6ce95fe872a3">https://www.ft.com/content/cf965960-b083-49ee-bae1-6ce95fe872a3</a>

General

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'US to revoke licences for supply of chips to China's Huawei' -Financial Times

Argus Research analyst Jim Kelleher maintains Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Buy and raises the price target from $180 to $205.

Price Target

Analyst Ratings

Argus Research Maintains Buy on Qualcomm, Raises Price Target to $205

Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) has outperformed the market over the past 5 years by 3.89% on an annualized basis producing an average annual return of 16.9%. Currently, Qualcomm has a market capitalization of $204.35 billion. 
Buying $1000 In QCOM: If an investor had bought $1000 of QCOM stock 5 years ago, it would be worth $2,133.15 today based on a price of $183.11 for QCOM at the time of writing.
<h3>Qualcomm's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715092339_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$1000 Invested In This Stock 5 Years Ago Would Be Worth $2,100 Today

This past week, eight companies in&nbsp;KeyBanc&nbsp;analyst John Vinh&#8217;s semi-coverage universe reported, from which he highlighted vital takeaways. The companies included&nbsp;Advanced Micro Devices, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>),&nbsp;Lattice Semiconductor Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>),&nbsp;Monolithic Power Systems, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>),&nbsp;NXP Semiconductors NV&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>),&nbsp;ON Semiconductor Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>),&nbsp;Qualcomm Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>),&nbsp;Qorvo, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), and&nbsp;Skyworks Solutions, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>).
He noted analog cyclical semis show incremental signs of stabilization and bottoming, with booking trends improving and channel inventory further decreasing.
Distributors&nbsp;Arrow Electronics, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARW#NYSE">ARW</a>) and&nbsp;Avnet, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) indicate that transportation in NA, A&amp;D in EUR, datacenter, and consumer in Asia showed signs of green shoots; however, guidance reflects incremental softness on more aggressive customer destocking trends.
Automotive is correcting, but&nbsp;with the exception of&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;is&nbsp;not as bad as feared, while&nbsp;industrial appears further through the destocking process with indications of green shoots.
AI data centers remain robust, and traditional demand is gradually recovering, evidenced by new CPU platform ramps.
In conjunction with&nbsp;Apple Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) results and outlook, iPhone demand is mainly in line, with China&#8217;s better-than-feared and emerging market strength offsetting softer mature markets in RoW.&nbsp;
Also See:&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38613198" rel="noreferrer noopener">Apple Delivered Much Better-Than-Feared &#8216;Jalen-Brunson-Like&#8217; Quarter, Says Bullish Analyst: Why Betting Against Cupertino Is A &#8216;Wrong Move&#8217;</a>
Additionally, high-end Android demand remains strong, while the mass market segment is weak.&nbsp;
Looking into this week, Vinh has five companies scheduled to report. The companies include&nbsp;Arm Holdings Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>),&nbsp;Cirrus Logic, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>),&nbsp;Indie Semiconductor, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDI#NASDAQ">INDI</a>),&nbsp;Microchip Technology Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), and&nbsp;Synaptics Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNA#NASDAQ">SYNA</a>).&nbsp;
He expects solid results for ARM and CRUS for the mobile and consumer supply chain.&nbsp;CRUS&#8217;s guidance could see modest risk due to high AAPL exposure, and ARM&nbsp;should&nbsp;benefit additionally&nbsp;from continuous share gains in cloud and AI licensing momentum and healthy demand for high-end handsets.&nbsp;
For SYNA, the analyst will seek in-line results and in-line slightly lower guidance, with lingering enterprise softness.&nbsp;
On analog, Vinh expects solid results and guidance for MCHP, similar to NXPI and&nbsp;Texas Instruments Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), with booking trends stabilizing and inventory normalizing further.&nbsp;
For Indie Semiconductor, Vinh projects in-line results and modest risks to guidance due to incremental auto weakness across both Internal Combustion Engine (ICE) Vehicle and Electric Vehicle (EV) (outside China).
Photo via Shutterstock

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Thanks To Apple, This Analyst Is Optimistic On ARM, Microchip Technology And More Ahead Of Earnings

NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares are trading higher Monday, and the stock is trending on WallStreetBets. Here's a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634160/nvidias-ai-dominance-evident-as-tech-behemoths-from-microsoft-to-meta-and-google-ke">look at what to know</a>.
The Details:
Qualcomm, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reported <a href="https://www.benzinga.com/news/earnings/24/05/38563793/qualcomm-q2-earnings-highlights-revenue-beat-eps-beat-record-automotive-results-on-device-ai-growth">strong earnings</a> last Wednesday with earnings of $2.44 per share and revenue of $9.39 billion, both above Street expectations. Qualcomm's report indicated a strong market for the entire sector and pushed other semiconductor stocks higher. 
Analysts remain <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38617600/nvidia-stock-analysts-are-bullish-while-reddit-user-predicts-nvda-will-drop-to-800">bullish</a> on Nvidia, with a consensus price target of<a href="https://www.benzinga.com/quote/NVDA/analyst-ratings"> $949.36 a share</a> and a rating of "Buy" for the stock, with the most recent ratings citing a potential upside of 31.5% from the current price.&nbsp;
Nvidia is set to report its first-quarter financial results on May 22 after the market close. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of $5.55 per share and quarterly revenue of $22.103 billion.&nbsp;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, shares are trading above the stock&#8217;s 50-day moving average of $865.07 and near its 52-week high of $974.00.&nbsp;
Related News: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38615880/whats-going-on-with-coinbase-stock-after-earnings">What&#8217;s Going On With Coinbase Stock After Earnings?</a>&nbsp;
NVDA Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Nvidia shares are up 3.33% at $917.42 at the time of publication Monday.
Image: Shutterstock

What's Going On With Nvidia's Stock?

The Nasdaq 100 closed higher by around 2% on Friday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Micron Technology</h3>
<ul>
<li>The Trade: Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) EVP, Technology &amp; Products Scott J Deboer <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 40,000 shares</a> at an average price of $110.31. The insider received around $4.41 million from selling those shares.</li>
<li>What's Happening: On April 25, Micron announced signing a non-binding Preliminary Memorandum of Terms (PMT) for $6.1 billion in funding under the CHIPS and Science Act.</li>
<li>What Micron Does: Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Levi Strauss</h3>
<ul>
<li>The Trade: Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) Director David A Friedman <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 16,666 shares </a> at an average price of $21.42. The insider received around $357,027 from selling those shares.</li>
<li>What's Happening: On April 11, Levi Strauss &amp; Co. named Gianluca Flore as Chief Commercial Officer.</li>
<li>What Levi Strauss Does: Levi Strauss &amp; Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi&#8217;s, Dockers, Signature by Levi Strauss &amp; Co. and Denizen brands.</li>
</ul>
<h3 class="wp-block-heading">QUALCOMM</h3>
<ul>
<li>The Trade: QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) Chief Technology Officer James H Thompson <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,000 shares</a> at an average price of $182.00. The insider received around $1.46 million from selling those shares.</li>
<li>What's Happening: On May 1, Qualcomm reported better-than-expected second-quarter financial results and raised its dividend.</li>
<li>What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.</li>
</ul>
<h3 class="wp-block-heading">GoDaddy</h3>
<ul>
<li>The Trade: GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) Chief Operating Officer Roger Chen <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 4,000 shares</a> at an average price of $122.60. The insider received around $490,400 from selling those shares.</li>
<li>What's Happening: On May 2, GoDaddy reported upbeat first-quarter financial results.</li>
<li>What GoDaddy Does: GoDaddy is a provider of domain registration and aftermarket services, website hosting, security, design, and business productivity tools, commerce solutions, and domain registry services.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38611902/wall-streets-most-accurate-analysts-views-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a>

Penny Stocks

Short Ideas

Pre-Market Outlook

GDDY

LEVI

Micron, Qualcomm And 2 Other Stocks Insiders Are Selling

InterDigital, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idcc#NASDAQ">IDCC</a>) reported strong first-quarter 2024 results, with both the bottom line and top line surpassing the respective Zacks Consensus Estimate. The company generated higher revenues year over year, driven by solid licensing momentum in consumer electronics. 
The company inked several license agreements during the quarter, including a landmark deal with Samsung Electronics (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>).&nbsp;IDCC is also advancing its leadership position in AI applications for wireless and video technology.
<h3>Net Income</h3>
Quarterly net income was $81.7 million or $2.88 per share, down from $105.3 million or $3.58 per share in the year-earlier quarter. Despite top-line growth, higher operating expenses led to lower net income. 
Non-GAAP net income was $94.5 million or $3.58 per share, down from $123.6 million or $4.21 per share in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate by 21 cents.
<div class="chart_embed">
<h3>InterDigital, Inc. Price, Consensus and EPS Surprise <a href="https://www.zacks.com/stock/chart/IDCC/price-consensus-eps-surprise-chart?icid=chart-IDCC-price-consensus-eps-surprise-chart"> <img alt="InterDigital, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/78/1714729398.png" style="height:265px; width:584px" title="" /> </a></h3>
InterDigital, Inc. price-consensus-eps-surprise-chart | InterDigital, Inc. Quote
</div>
<h3>Revenues</h3>
Net sales in the quarter rose to $263.5 million from $202.4 million in the year-ago quarter. The 30% year-over-year improvement was induced by solid net sales growth in CE, IoT/Auto licensing programs during the quarter. The top line beat the consensus estimate of $216 million. 
In the first quarter, total recurring revenues were $96.9 million, down from $101.6 million in the year-ago quarter. Net sales marginally missed our estimate of $97.5 million. Smartphone revenues decreased 57% year over year to $80.3 million. Net sales from CE, loT/Auto increased to $182.5 million from $16.1 million in the year-ago quarter. 
Total catch-up revenues improved to $166.7 million from $100.8 million. Net sales beat our estimate of $152.6 million.
<h3>Other Details</h3>
Adjusted EBITDA decreased 16% year over year to $130.4 million. Total operating expenses rose to $159.8 million from $83.1 million in the year-ago quarter. The increase in operating costs is primarily attributed to higher licensing-related expenses. Operating income fell to $103.7 million from $119.3 million in the year-earlier quarter.
<h3>Cash Flow &amp; Liquidity</h3>
In the first quarter, InterDigital generated $50.8 million of cash from operating activities against a cash utilization of $27.9 million in the year-earlier quarter. As of Mar 31, 2024, it had $984.6 million in cash, cash equivalents and short-term investments, with $85 million of long-term debt and other long-term liabilities.
<h3>Outlook</h3>
For the second quarter of 2024, InterDigital estimates revenues to be between $93 million and $97 million. Adjusted EBITDA is expected in the band of $35-$38 million. Non-GAAP earnings are expected to be within 70-80 cents per share. 
For 2024, management anticipates revenues in the range of $620-$670 million. Adjusted EBITDA is forecasted at about $310-$345 million. Non-GAAP earnings per share are expected between $7.45 and $8.76 per share.
<h3>Zacks Rank &amp; Stocks to Consider</h3>
InterDigital currently has a Zacks Rank #3 (Hold). 
Pinterest (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pins#NYSE">PINS</a>), carrying a Zacks Rank #2 (Buy) at present, delivered a trailing four-quarter average earnings surprise of 38.78%. In the last reported quarter, it delivered an earnings surprise of 42.86%. 
Pinterest is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which appears to be one of the best ad platforms for consumer discretionary brands looking for ways to reach customers and stretch smaller ad budgets. 
Arista Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), carrying a Zacks Rank #2 at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. Arista has a long-term earnings growth expectation of 17.5% and delivered an earnings surprise of 13.3%, on average, in the trailing four quarters. 
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed datacenter segment. Arista is increasingly gaining market traction in 200 and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations. 
Qualcomm Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>), carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 7.54%. In the last reported quarter, it delivered an earnings surprise of 6.09%. 
Qualcomm Incorporated designs, manufactures and markets digital wireless telecom products and services based on the Code Division Multiple Access technology. The products include CDMA-based integrated circuits and system software for wireless voice and data communications, as well as global positioning system products.
<a href="https://www.zacks.com/stock/news/2268021/interdigital-idcc-q1-earnings-beat-on-higher-revenues?cid=CS-BENZ-FT-analyst_blog|earnings_article-2268021">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

ANET

IDCC

PINS

SSNLF

InterDigital Q1 Earnings Beat on Higher Revenues

Whales with a lot of money to spend have taken a noticeably bullish stance on Qualcomm.
Looking at options history for Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) we detected 36 trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 36% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $376,129 and 26, calls, for a total amount of $2,024,047.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $220.0 for Qualcomm over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 1760.45 with a total volume of 6,590.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $110.0 to $220.0 over the last 30 days.
<h3>Qualcomm Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714763800_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$65.45</td>
<td>$64.7</td>
<td>$64.7</td>
<td>$115.00</td>
<td>$452.9K</td>
<td>598</td>
<td style="text-align: right;">6</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$73.65</td>
<td>$72.7</td>
<td>$72.7</td>
<td>$115.00</td>
<td>$218.1K</td>
<td>61</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$64.85</td>
<td>$62.6</td>
<td>$64.52</td>
<td>$115.00</td>
<td>$193.5K</td>
<td>31</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$2.08</td>
<td>$1.89</td>
<td>$2.0</td>
<td>$180.00</td>
<td>$136.0K</td>
<td>3.9K</td>
<td style="text-align: right;">328</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$14.85</td>
<td>$13.9</td>
<td>$14.25</td>
<td>$175.00</td>
<td>$114.0K</td>
<td>13</td>
<td style="text-align: right;">116</td>
</tr>
</tbody>
</table>

<h3>About Qualcomm</h3>
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Qualcomm's Current Market Status</h3>
<ul>
<li>With a volume of 6,771,381, the price of QCOM is down -0.46% at $179.28. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 89 days.</li>
</ul>
<h3>Professional Analyst Ratings for Qualcomm</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $192.0.
<ul>
<li>An analyst from HSBC persists with their Buy rating on Qualcomm, maintaining a target price of $190. </li>
<li>Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Qualcomm, targeting a price of $200. </li>
<li>Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Qualcomm with a target price of $170. </li>
<li>An analyst from Benchmark downgraded its action to Buy with a price target of $200. </li>
<li>An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $200. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Qualcomm options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Qualcomm Options Trading: A Deep Dive into Market Sentiment

Benchmark analyst Cody Acree reiterates Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Buy and maintains $200 price target.

Reiteration

Benchmark Reiterates Buy on Qualcomm, Maintains $200 Price Target

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares closed higher on Thursday as semiconductor stocks recorded gains following strong quarterly results <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38588728/5-qualcomm-analysts-highlight-q2-results-q3-guidance-solid-beat-and-raise-amid-carn">from Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).</a>
The Federal Open Market Committee (FOMC) did not intend to raise rates and is still open to lowering them before the year is out. The semiconductor industry, a high-growth sector, responded well to the news. Typically, investors are scared away from high-growth equities in <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38594177/semiconductor-stocks-pop-after-fed-meeting-and-strong-numbers-from-this-chip-maker">high-interest rate environments</a>.
Nvidia is scheduled to host a conference call on Wednesday, May 22, to discuss its financial results for the first quarter of fiscal year 2025.
Analysts expect the company to report quarterly earnings at $5.55 per share on <a href="https://www.benzinga.com/quote/NVDA/earnings">revenue of $24.49 billion</a>.
With the recent buzz around Nvidia, some investors may be eyeing potential gains from the company's dividends, too. As of now, Nvidia offers an annual dividend yield of 0.02%, which is a quarterly dividend amount of 4 cents per share (16 cents a year).
So, how can investors exploit its dividend yield to pocket a regular $500 monthly?
To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $32,181,375 or around 37,500 shares. For a more modest $100 per month or $1,200 per year, you would need $6,436,275 or around 7,500 shares.
Read This: <a href="https://www.benzinga.com/news/24/05/38582620/jim-cramer-this-pc-maker-is-a-good-stock-to-own-okta-is-terrific">Jim Cramer &#8211; This PC Maker Is A &#8216;Good Stock To Own&#8217;, Okta Is &#8216;Terrific&#8217;</a>
To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.16 in this case). So, $6,000 / $0.16 = 37,500 ($500 per month), and $1,200 / $0.16 = 7,500 shares ($100 per month).
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
How that works: The dividend yield is computed by dividing the annual dividend payment by the stock&#8217;s current price.
For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).
Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.
NVDA Price Action: Shares of Nvidia gained 3.3% to close at $858.17 on Thursday.
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38582499/top-4-defensive-stocks-youll-regret-missing-this-quarter">Top 4 Defensive Stocks You&#8217;ll Regret Missing This Quarter</a>
Image: Shutterstock

Long Ideas

Dividends

How To Earn $500 A Month From Nvidia Stock Ahead Of Q1 Earnings Report

Firebrand Republican Congresswoman&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38348258/marjorie-taylor-greene-takes-step-back-in-effort-to-remove-speaker-mike-johnson-but-blasts-him-as-a" rel="noreferrer noopener">Marjorie Taylor Greene</a>&nbsp;(R-GA) made headlines Thursday&nbsp;with a disclosure of&nbsp;her latest financial transactions.
What Happened: Greene&#8217;s filing on Thursday marks her first periodic transaction report since June 2022, adhering to the &#8220;Stock Trading on Congressional Knowledge Act.&#8221; This act mandates U.S. lawmakers to publicly disclose financial transactions within 45 days of occurrence, typically within a value range.
All transactions occurred on either April 25 or 26.
The details of Greene&#8217;s transactions are as follows:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Value Range</td>
</tr>
<tr>
<td>Berkshire Hathaway, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Schwab US Large-Cap Growth Idx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWLGX#NASDAQ">SWLGX</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Tractor Supply Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>US Treasury Bill</td>
<td>$250,001-$500,000</td>
</tr>
<tr>
<td>Vanguard FTSE Developed Markets Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEA#NYSE">VEA</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Vanguard Mid-Cap Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>)</td>
<td>$15,001-$50,000</td>
</tr>
<tr>
<td>Vanguard Small-Cap Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VB#NYSE">VB</a>)</td>
<td>$1,001-$15,000</td>
</tr>
</tbody>
</table>
</figure>
Sale transactions:
<ul>
<li>iShares Core MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMG#NYSE">EMG</a>): $1,001-$15,000 </li>
<li>iShares Core MSCI Total International Stock ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IXUS#NASDAQ">IXUS</a>): $1,001-$15,000 </li>
<li>iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>): $1,001-$15,000)</li>
<li>iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>): $1,001-$15,000)</li>
<li>iShares Core S&amp;P U.S. Growth ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IUSG#NASDAQ">IUSG</a>): $1,001-$15,000)</li>
</ul>
All the exchange-traded funds were part of mutual funds held in Greene&#8217;s managed IRA account.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
No DJT Trades: Greene, an ardent backer of Republican Presidential candidate Donald Trump, incidentally did not do any new transaction in Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), the former president&#8217;s media company that <a href="https://www.benzinga.com/markets/equities/24/03/37963370/trumps-djt-stock-is-worth-52x-more-than-nvidia-by-1-data-point">came public in late March following its merger with SPAC Digital World Acquisition.</a>
The stock is down about 16% since its public debut.
When Digital World Acquisition announced its decision with Trump Media &amp; Technology Group in 2021, Green was the first Congress member to invest in the SPAC. She then reported that she along with her then-husband Perry Greene bought $15,001-$50,000 worth of the SPAC&#8217;s shares
Greene hasn&#8217;t disclosed any sale of the stock since then.
The stock market has been on a tear this year despite the headwinds. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an ETF that tracks the broader S&amp;P 500 Index, rose 0.34% to $506.74, in premarket trading, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>It has gained over 6.5% so far this year.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38609896/wall-street-looks-to-feed-off-apples-post-earnings-power-but-key-jobs-data-may-upset-the-cart-analy">Wall Street Looks To Feed Off Apple&#8217;s Post-Earnings Power But Key Jobs Data May Upset The Cart: Analyst Says &#8216;A Lot Of These Clouds Will Lift&#8217; If This Happens</a>

Social Media

IUSG

IXUS

MSTF

SWLGX

TSCO

Marjorie Taylor Greene Reveals New Stock Trades After 2-Year Gap: Berkshire Hathway, Goldman Sachs And Microsoft Make The List — But Trump's DJT Doesn't

On Thursday, May 2, the&nbsp;U.S.&nbsp;stock markets closed higher as investors evaluated the Federal Reserve&#8217;s dovish rate guidance and mixed earnings. All three indexes closed higher.
According to economic data, the&nbsp;U.S.&nbsp;trade deficit narrowed to $69.4 billion in March from $69.5 billion in February. Initial jobless claims remained steady at 208,000 for the week ending April 27, against an expected 212,000.
Most sectors on the S&amp;P 500 closed higher, with consumer discretionary, real estate&nbsp;and&nbsp;tech stocks leading. However, materials and healthcare stocks declined.
The Nasdaq rose due to a strong performance from semiconductor stocks after Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reported quarterly sales and profits that surpassed analyst expectations.
The Dow Jones Industrial Average gained 0.85% to close at 38,225.66. The S&amp;P 500 was up 0.91%, ending the day at 5,064.20, while the Nasdaq Composite slipped 1.51%, finishing the session at 15,840.96.
Asian Markets Today
<ul>
<li>Japan&#8217;s Market closed for the Constitution Day holiday.</li>
<li>On Friday, Australia&#8217;s S&amp;P/ASX 200 index closed higher by 0.55% at 7,629.00, led by gains in the Consumer Discretionary, A-REITs, and&nbsp;IT&nbsp;sectors.</li>
<li>India&#8217;s Nifty 50 was down 0.81% at 22,464.95, and Nifty 500 was trading lower by 0.64% at 20,949.05.</li>
<li>China Market is closed for the Labor Day holiday.</li>
<li>Hong Kong&#8217;s Hang Seng Index gained 1.48%, concluding the day at 18,475.92.</li>
</ul>
Eurozone at 05:45 AM ET
<ul>
<li>The European STOXX 50 index was up 0.59%.</li>
<li>Germany&#8217;s DAX gained 0.42%.</li>
<li>France&#8217;s CAC rose 0.61%.</li>
<li>U.K.&#8217;s&nbsp;FTSE 100 traded higher&nbsp;by&nbsp;0.41%.</li>
</ul>
Commodities at 05:45 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.08% at $78.89/bbl, and Brent was down 0.05% at $83.63 bbl.</li>
<li>Natural Gas slid 0.29% to $2.027.</li>
<li>Gold was trading higher by 0.02% at $2,310.10, Silver slid 0.11% to $26.802, while Copper was up 1.32% at $4.5438.</li>
</ul>
US&nbsp;Futures at 05:45 AM ET&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Dow futures were up 0.72%, S&amp;P 500 futures rose 0.30%, and Nasdaq 100 Futures gained 0.57%.
Forex at 05:45 AM ET
The U.S. dollar index declined 0.14% to 105.16, the USD/JPY was down 0.37% to 153.06, and the USD/AUD fell 0.27% to 1.5192.
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Asia Markets Mixed, Europe Gain While Crude Oil and Gold Fall Below Key Levels - Global Markets Today While US Slept

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the Dow Jones index surging more than 300 points during the session. The U.S. Federal Reserve, on Wednesday, opted to keep the federal funds rate unchanged at 5.25% to 5.5%, as widely expected.
On the economic data front, the trade deficit in the US narrowed slightly to $69.4 billion in March versus a revised $69.5 billion gap in February. U.S. initial jobless claims came in unchanged from the previous week at 208,000 during the week ending April 27, compared to market expectations of 212,000.
Data on April nonfarm payrolls will be released today, with economists projecting 240,000 job gains for the month.
QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) shares jumped around 10% on Thursday after the company reported better-than-expected second-quarter financial results and raised its dividend. DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) shares dipped over 10% after the company reported mixed first-quarter financial results. Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares surged around 34% after the company reported upbeat sales for the first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, real estate and information technology stocks recording the biggest gains on Thursday. However, materials and health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 322 points to 38,225.66 on Thursday. The S&amp;P 500 rose 0.91% at 5,064.20, while the Nasdaq Composite jumped 1.51% at 15,840.96 during Thursday's session.
Investors are awaiting earnings results from American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), and Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) today.
At a current reading of 36.2, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 33.9.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Canaccord Genuity analyst Michael Walkley maintains Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Buy and raises the price target from $180 to $206.

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May's FOMC meeting left the Fed Funds Rate unchanged. JOLTS showed fewer job openings with increased layoffs. April's job report disappointed, adding only 175k jobs and seeing higher unemployment. Consumer confidence sharply dropped to 97 in April.

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Over the past year, advancements in artificial intelligence (AI), cloud computing and cybersecurity propelled the tech sector to new Wall Street heights. As a result, the tech-heavy Nasdaq 100 index has returned over 35% in the past 12 months. Now that we are well into the second-quarter earnings season, investors are looking for <a href="https://investorplace.com/industries/technology/">tech stocks</a> to buy after earnings.



Despite the decline in the tech sector in April, many positive earnings surprises across sectors have led to <a href="https://insight.factset.com/sp-500-earnings-season-update-may-3-2024">renewed optimism</a> on Wall Street. And, the &ldquo;Magnificent Seven&rdquo; stocks, namely Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>), Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>), Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>), Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>), Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>), Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>), and Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), are once again on investors&rsquo; radars.



Analysts have also been endorsing a number of tech darlings, especially citing AI&rsquo;s role in the sector&rsquo;s growth. For instance, Morgan Stanley&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/ms-stock-quote/">MS</a>) recently <a href="https://appleinsider.com/articles/24/05/03/morgan-stanley-hikes-apple-stock-target-after-unexpectedly-positive-earnings">raised Apple&rsquo;s target price post-earnings</a>, noting the quarterly performance, stock buyback and hints at AI updates to come. With that in mind, let&rsquo;s explore three tech stocks to to buy after earnings.



<h2>Amazon (AMZN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-300x169.png" alt="Closeup of the Amazon logo at Amazon campus in Palo Alto, California. The Palo Alto location hosts A9 Search, Amazon Web Services, and Amazon Game Studios teams. AMZN stock"><div>Source: Tada Images / Shutterstock.com</div></div>The first company is Amazon, which <a href="https://ir.aboutamazon.com/news-release/news-release-details/2024/Amazon.com-Announces-First-Quarter-Results-68b9258cd/">reported impressive Q1 2024 financials</a> on April 30. Revenues surged 13% year-over-year (YOY) to $143 billion, driven by strong e-commerce and Amazon Web Services (AWS) performance. Net income tripled to $10.4 billion, or 98 cents per diluted share, compared to the same period last year. Additionally, the company&rsquo;s free cash flow surged to $50 billion. This is a notable improvement from the $3.3 billion outflow in the previous year.



Apart from a strong retail business fueled by robust consumer demand, Amazon&rsquo;s strategic emphasis on AI infrastructure positions it for further growth. Innovations such as the <a href="https://aws.amazon.com/tr/blogs/machine-learning/revolutionizing-large-language-model-training-with-arcee-and-aws-trainium/">Trainium</a> and <a href="https://aws.amazon.com/tr/machine-learning/inferentia/">Inferentia</a> chips optimize machine learning tasks, ensuring efficiency. Furthermore, the AI services platform, Bedrock, <a href="https://press.aboutamazon.com/2024/4/amazon-bedrock-launches-new-capabilities-as-tens-of-thousands-of-customers-choose-it-as-the-foundation-to-build-and-scale-secure-generative-ai-applications">streamlines deployment and customization</a>. And, third-party applications utilizing Amazon&rsquo;s infrastructure expand its market presence and reach.



As a result, AMZN stock has <a href="https://www.cnbc.com/quotes/AMZN?qsearchterm=amzn">gained 22% year-to-date</a> (YTD). Meanwhile, the shares are changing hands at 41 times forward earnings and three times trailing sales. Despite the relatively high valuation, analysts foresee further upside. They set a <a href="https://edition.cnn.com/markets/stocks/amzn">12-month price target</a> of $220, suggesting an 18% potential increase from current levels. Interested investors may consider the $180 level as a better entry point into Amazon shares.



<h2>iShares U.S. Technology ETF (IYW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/ishares1600-300x169.jpg" alt="iShares by Blackrock sign"><div>Source: Sundry Photography / Shutterstock.com</div></div>Howard Silverblatt, senior index analyst at<a href="https://www.spglobal.com/spdji/en/contributors/howard-silverblatt/"> S&amp;P Dow Jones Indices</a>, noted that the information technology and communication services sectors, which comprise the majority of the tech industry, <a href="https://twitter.com/hsilverb/status/1741213518777483649">drove over 70%</a> of the S&amp;P 500&rsquo;s total return of 26.3% in 2023. The &ldquo;Magnificent Seven&rdquo; played a significant role in this rally, <a href="https://www.statista.com/chart/30318/sector-contributions-to-sp500-return/">contributing around 60%</a> of the index&rsquo;s total return.



Therefore, the iShares U.S. Technology ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/iyw-stock-quote/">IYW</a>) stands out as a <a href="https://www.ishares.com/us/products/307352/ishares-cybersecurity-and-tech-etf">compelling choice</a>. This ETF provides a gateway to a diverse group of U.S. tech companies, reflecting a blend of established players and innovative disruptors.



Since its inception in May 2000, IYW has demonstrated remarkable growth, now boasting net assets totaling $16 billion. The fund offers a comprehensive portfolio comprising 131 holdings, with the top ten commanding approximately 65% of the allocation.



Among its leading holdings are tech giants Microsoft, Apple, Nvidia, Meta Platforms and Alphabet. The fund maintains a diversified spread across sectors, including Software &amp; Services (40%), Semiconductors &amp; Semiconductor Equipment (30%), Tech Hardware &amp; Equipment (18%) and Media &amp; Entertainment (10%).



IYW is <a href="https://www.cnbc.com/quotes/IYW?qsearchterm=iyw">up nearly 8%</a> YTD and has gained almost 44% over the past 12 months, outperforming the broad S&amp;P 500 index as well as the Nasdaq 100 index. Its trailing price-to-earnings (P/E) and price-to-book (P/B) ratios stand at around 36.5x and 9.5x, respectively. Finally, investors should note IYW&rsquo;s expense ratio of 0.4%.



<h2>Qualcomm (QCOM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/qcom-stock-3-300x169.jpg" alt='An image of the top half of a black smartphone with a white screen displaying a blue "Qualcomm" logo, with a blurry white "Qualcomm" logo on a blue design in the background.'><div>Source: nikkimeel / Shutterstock.com</div></div>Our final pick among top tech stocks to buy earnings is Qualcomm (NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>). The leading global provider of semiconductor solutions and wireless technology operates through Qualcomm CDMA Technologies (QCT) and Qualcomm Technology Licensing (QTL). QCT generates revenue from chipsets for the telecommunications industry, while QTL manages patent licensing.



Recently, QCOM stock hit an all-time high after releasing <a href="https://www.qualcomm.com/news/releases/2024/05/qualcomm-announces-second-quarter-fiscal-2024-results">impressive second-quarter fiscal 2024</a> earnings. The company reported $9.4 billion in non-GAAP revenues, a 1% increase from the previous year&rsquo;s quarter, and $2.44 in diluted earnings per share, a 13% rise YOY that exceeded guidance. Notably, QCT Automotive saw exceptional growth, with a 35% surge in revenues due to expanded content in new vehicle launches featuring <a href="https://www.qualcomm.com/news/releases/2024/01/qualcomm-ushers-in-a-new-era-of-mobility-at-ces-2024">Snapdragon Digital Chassis</a> products.



Investors have been following the anticipated demand for AI-equipped premium smartphones. Going forward, the company&rsquo;s strategic diversification into emerging sectors like automotive, IoT and networking underscores Qualcomm&rsquo;s commitment to long-term sustainability and revenue diversification.



So far in 2024, <a href="https://www.cnbc.com/quotes/QCOM?qsearchterm=QCOM">QCOM shares have returned</a> 24%, and currently trade at around 19 times forward earnings and six times trailing sales, indicating a relatively premium valuation. Nonetheless, analysts&rsquo; price targets of $185 still <a href="https://edition.cnn.com/markets/stocks/QCOM">imply an average upside potential of 3%</a> from current levels. Finally, the stock also offers a 1.9% dividend yield.



On the date of publication, Tezcan Gecgil had both long and short positions in META stock.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Tezcan Gecgil, PhD, began contributing to InvestorPlace in 2018. She brings over 20 years of experience in the U.S. and U.K. and has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Publicly, she has contributed to <a href="https://www.investing.com/">investing.com</a> and the U.K. website of <a href="https://www.fool.com/">The Motley Fool.</a></div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-tech-stock-darlings-to-scoop-up-after-q2-earnings/">3 Tech Stock Darlings to Scoop Up After Q2 earnings</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Tech Stock Darlings to Scoop Up After Q2 earnings

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