Bullish
Qualcomm's stock rises 2% after CFO calls QCOM 'fairly valued' post-Amazon deal.
Qualcomm's CFO, Akash Palkhiwala, stated that QCOM shares are 'fairly valued' following the announcement of a partnership with Amazon. This partnership includes Amazon's right to purchase up to 25 million Qualcomm shares at $161.26 each, potentially totaling around $4 billion. The stock experienced a 2% increase in pre-market trading after this statement.
Key points
- CFO Akash Palkhiwala describes QCOM stock as 'fairly valued' post-Amazon deal.
- Amazon granted the right to purchase up to 25 million Qualcomm shares at $161.26 each.
- Pre-market trading saw a 2% increase in Qualcomm's stock price following the announcement.
Sources
AI-generated from public news sources. Not financial advice.
