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Qualcomm (QCOM - Free Report) closed at $175.58 in the latest trading session, marking a +1.13% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.15%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.32%.
Shares of the chipmaker have appreciated by 1.46% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.32% and lagging the S&P 500's gain of 1.65%.
The upcoming earnings release of Qualcomm will be of great interest to investors. The company is predicted to post an EPS of $2.31, indicating a 7.44% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.29 billion, up 0.17% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.57 per share and revenue of $37.54 billion. These totals would mark changes of +13.52% and +4.82%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Qualcomm. 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Qualcomm holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 18.15 right now. This represents a premium compared to its industry's average Forward P/E of 14.53.
We can additionally observe that QCOM currently boasts a PEG ratio of 1.9. 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 1.44 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 210, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Qualcomm (QCOM) Laps the Stock Market: Here's Why
Qualcomm (QCOM - Free Report) closed at $175.58 in the latest trading session, marking a +1.13% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.15%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.32%.
Shares of the chipmaker have appreciated by 1.46% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.32% and lagging the S&P 500's gain of 1.65%.
The upcoming earnings release of Qualcomm will be of great interest to investors. The company is predicted to post an EPS of $2.31, indicating a 7.44% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.29 billion, up 0.17% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.57 per share and revenue of $37.54 billion. These totals would mark changes of +13.52% and +4.82%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Qualcomm. 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Qualcomm holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 18.15 right now. This represents a premium compared to its industry's average Forward P/E of 14.53.
We can additionally observe that QCOM currently boasts a PEG ratio of 1.9. 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 1.44 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 210, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.