Qualcomm Inc. QCOM posted stronger-than-expected fourth quarter earnings and current quarter profit guidance on Wednesday.
The stock was rising 4.93% to $88.80 a share on Thursday morning.
Adjusted earnings for Qualcomm's fiscal fourth quarter was 78 cents per share, down 12.4% from the same period last year but ahead of Wall Street estimates of 71 cents. The adjusted operating margin was 22.9%, beating expectations of 22.5%. Revenue for the quarter came in at $4.8 billion, against beating analysts expectations of $4.756 billion even as the total fell 17% from last year.
Qualcomm's earnings report wraps a busy fiscal year, including settling a legal battle with customer Apple and a entering into royalty agreement with Huawei. These events have contributed to Qualcomm's strong licensing business.
TheStreet's Katherine Ross asks Jim Cramer for his take on Qualcomm, and whether the company is a buy. While Cramer acknowledges Qualcomm's success, he tells Ross its 5g train "has already left the station."
Instead, Cramer advises investors to buy Marvell Technology Group, because "it's still in the station."
"I'd rather buy the one where I don't have to run to catch up," said Cramer.
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