Should You Buy Qualcomm Stock Before Its Nov. 4 Report?

Qualcomm shares dropped 11% on Oct. 30 amid a broader semiconductor sell-off. The chipmaker faces headwinds from declining handset chip revenue (down 20% YoY in June quarter) and reduced Apple business, but has promising custom data center chip deals expected to generate revenue starting in the December quarter. Analyst suggests waiting for actual December quarter sales data before buying, as the stock currently trades at reasonable valuations but data center success remains unproven.