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Qualcomm (QCOM) Falls More Steeply Than Broader Market: What Investors Need to Know
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Qualcomm (QCOM - Free Report) closed at $182.97 in the latest trading session, marking a -1.88% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 1.16%.
Shares of the chipmaker have depreciated by 14.37% over the course of the past month, underperforming the Computer and Technology sector's gain of 0.38%, and the S&P 500's gain of 2.14%.
The upcoming earnings release of Qualcomm will be of great interest to investors. On that day, Qualcomm is projected to report earnings of $2.21 per share, which would represent a year-over-year decline of 20.22%. Alongside, our most recent consensus estimate is anticipating revenue of $9.7 billion, indicating a 6.46% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.77 per share and a revenue of $42.72 billion, signifying shifts of -10.47% and -3.21%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Qualcomm. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.06% fall in the Zacks Consensus EPS estimate. Qualcomm presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 17.32. For comparison, its industry has an average Forward P/E of 49.38, which means Qualcomm is trading at a discount to the group.
It is also worth noting that QCOM currently has a PEG ratio of 4.1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 41, finds itself in the top 17% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.
View the Zacks #1 Rank List
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Qualcomm (QCOM) Falls More Steeply Than Broader Market: What Investors Need to Know
Qualcomm (QCOM - Free Report) closed at $182.97 in the latest trading session, marking a -1.88% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 1.16%.
Shares of the chipmaker have depreciated by 14.37% over the course of the past month, underperforming the Computer and Technology sector's gain of 0.38%, and the S&P 500's gain of 2.14%.
The upcoming earnings release of Qualcomm will be of great interest to investors. On that day, Qualcomm is projected to report earnings of $2.21 per share, which would represent a year-over-year decline of 20.22%. Alongside, our most recent consensus estimate is anticipating revenue of $9.7 billion, indicating a 6.46% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.77 per share and a revenue of $42.72 billion, signifying shifts of -10.47% and -3.21%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Qualcomm. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.06% fall in the Zacks Consensus EPS estimate. Qualcomm presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 17.32. For comparison, its industry has an average Forward P/E of 49.38, which means Qualcomm is trading at a discount to the group.
It is also worth noting that QCOM currently has a PEG ratio of 4.1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 41, finds itself in the top 17% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.