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Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
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Qualcomm (QCOM - Free Report) closed the most recent trading day at $116.40, moving +0.55% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.37%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 1.26%.
Prior to today's trading, shares of the chipmaker had gained 12.37% over the past month. This has outpaced the Computer and Technology sector's gain of 6.31% and the S&P 500's gain of 4.31% in that time.
Wall Street will be looking for positivity from Qualcomm as it approaches its next earnings report date. The company is expected to report EPS of $1.81, down 38.85% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, down 22.15% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.25 per share and revenue of $35.9 billion. These totals would mark changes of -34.16% and -18.77%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Qualcomm. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. Qualcomm is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 14.02. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 14.02.
Meanwhile, QCOM's PEG ratio is currently 0.9. 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 1.79 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 167, which puts it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
Qualcomm (QCOM - Free Report) closed the most recent trading day at $116.40, moving +0.55% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.37%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 1.26%.
Prior to today's trading, shares of the chipmaker had gained 12.37% over the past month. This has outpaced the Computer and Technology sector's gain of 6.31% and the S&P 500's gain of 4.31% in that time.
Wall Street will be looking for positivity from Qualcomm as it approaches its next earnings report date. The company is expected to report EPS of $1.81, down 38.85% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, down 22.15% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.25 per share and revenue of $35.9 billion. These totals would mark changes of -34.16% and -18.77%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Qualcomm. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. Qualcomm is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 14.02. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 14.02.
Meanwhile, QCOM's PEG ratio is currently 0.9. 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 1.79 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 167, which puts it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.