Qualcomm, Inc. Stock Looks Set For A Rebound, Should You Buy Now?

 Shares of QUALCOMM, Inc. look set to resume their uptrend. QCOM Stock is a very attractive buy at these levels. Here's why.


Shares of San Diego, California-based Qualcomm (Nasdaq:QCOMlook set to continue their uptrend after gaining more than 5% in the last 5 days alone. This has been the best period for QCOM stock since it had been battered badly due to the FTC charges and Apple Inc.'s (Nasdaq:AAPL) lawsuit last month. Qualcomm reporting mixed Q1-2017 earnings also did not help its cause. In one of our previous posts, we had discussed the lawsuit risks associated with Qualcomm stock and its prospects as a value buy. Meanwhile, we have seen a number of announcements and disclosures about Qualcomm's various offerings, which have been very impressive. With QCOM on a recovery path of late, should you buy QCOM stock now? Is this a false dawn? Let's take a closer look.

Something More On Qualcomm's Legal Issues.

Qualcomm has officially sought a stay over the South Korea Fair Trade Commission's $873M fine with the legal deadline expiring on Feb 22nd. A Bloomberg post also reports that Qualcomm has claimed that the Samsung scandal weakens the case against it in the Korean antitrust ruling. The post highlights the investigation of Samsungs influence on KFTC and has questioned Kim Hak-hyun, who was the then chairman of KFTC when the regulatory body imposed the fine on Qualcomm. To quote Qualcomm's General Counsel, Don Rosenberg: "The incorrect decision is the product of an unfair process that we believe was heavily influenced by commercial interests. The recent reports about the special prosecutor’s investigation into Samsung’s connection to the former Vice Chairman of the KFTC, who oversaw our case, has increased our level of concern." Qualcomm's legal team's ability to defend the chipmaker in the antitrust case by attaching "broader alleged influence" could substantially work in their favor, though KFTC spokesperson has denied any foul play there.

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Disclosure: Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a ...

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