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Qualcomm (QCOM) Gains As Market Dips: What You Should Know
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Qualcomm (QCOM - Free Report) closed the most recent trading day at $120.34, moving +0.5% from the previous trading session. This change outpaced the S&P 500's 0.21% loss on the day. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq added 0.01%.
Prior to today's trading, shares of the chipmaker had lost 12.65% over the past month. This has lagged the Computer and Technology sector's loss of 11.89% and the S&P 500's loss of 9.7% in that time.
Investors will be hoping for strength from Qualcomm as it approaches its next earnings release. The company is expected to report EPS of $3.15, up 23.53% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.38 billion, up 21.91% from the year-ago period.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $12.47 per share and revenue of $44.17 billion. These results would represent year-over-year changes of +46.02% and +31.58%, respectively.
Any recent changes to analyst estimates for Qualcomm should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Qualcomm currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 9.6. For comparison, its industry has an average Forward P/E of 17.45, which means Qualcomm is trading at a discount to the group.
It is also worth noting that QCOM currently has a PEG ratio of 0.61. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QCOM's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Qualcomm (QCOM) Gains As Market Dips: What You Should Know
Qualcomm (QCOM - Free Report) closed the most recent trading day at $120.34, moving +0.5% from the previous trading session. This change outpaced the S&P 500's 0.21% loss on the day. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq added 0.01%.
Prior to today's trading, shares of the chipmaker had lost 12.65% over the past month. This has lagged the Computer and Technology sector's loss of 11.89% and the S&P 500's loss of 9.7% in that time.
Investors will be hoping for strength from Qualcomm as it approaches its next earnings release. The company is expected to report EPS of $3.15, up 23.53% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.38 billion, up 21.91% from the year-ago period.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $12.47 per share and revenue of $44.17 billion. These results would represent year-over-year changes of +46.02% and +31.58%, respectively.
Any recent changes to analyst estimates for Qualcomm should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Qualcomm currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 9.6. For comparison, its industry has an average Forward P/E of 17.45, which means Qualcomm is trading at a discount to the group.
It is also worth noting that QCOM currently has a PEG ratio of 0.61. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QCOM's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.