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Qualcomm (QCOM) Stock Moves -1.05%: What You Should Know
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Qualcomm (QCOM - Free Report) ended the recent trading session at $129.90, demonstrating a -1.05% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.51% for the day. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 2.01%.
Shares of the chipmaker have depreciated by 7.07% over the course of the past month, underperforming the Computer and Technology sector's loss of 1.84%, and the S&P 500's loss of 3.63%.
The investment community will be closely monitoring the performance of Qualcomm in its forthcoming earnings report. The company is predicted to post an EPS of $2.58, indicating a 9.47% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $10.64 billion, showing a 1.8% drop compared to the year-ago quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $11.16 per share and revenue of $43.51 billion. These results would represent year-over-year changes of -7.23% and -1.44%, respectively.
Investors might also notice recent changes to analyst estimates for Qualcomm. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 2.63% lower. Qualcomm is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 11.76 right now. This indicates a discount in contrast to its industry's Forward P/E of 34.05.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 89, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Qualcomm (QCOM) Stock Moves -1.05%: What You Should Know
Qualcomm (QCOM - Free Report) ended the recent trading session at $129.90, demonstrating a -1.05% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.51% for the day. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 2.01%.
Shares of the chipmaker have depreciated by 7.07% over the course of the past month, underperforming the Computer and Technology sector's loss of 1.84%, and the S&P 500's loss of 3.63%.
The investment community will be closely monitoring the performance of Qualcomm in its forthcoming earnings report. The company is predicted to post an EPS of $2.58, indicating a 9.47% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $10.64 billion, showing a 1.8% drop compared to the year-ago quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $11.16 per share and revenue of $43.51 billion. These results would represent year-over-year changes of -7.23% and -1.44%, respectively.
Investors might also notice recent changes to analyst estimates for Qualcomm. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 2.63% lower. Qualcomm is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 11.76 right now. This indicates a discount in contrast to its industry's Forward P/E of 34.05.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 89, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.