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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 $182.74, moving +0.75% from the previous trading session. This change outpaced the S&P 500's 0.62% gain on the day. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the chipmaker had gained 0.37% over the past month, outpacing the Computer and Technology sector's loss of 1.01% and lagging the S&P 500's gain of 0.39% 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 $3, up 38.25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.42 billion, up 26.51% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.48 per share and revenue of $39.38 billion. These totals would mark changes of +22.72% and +17.32%, 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Qualcomm is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Qualcomm's current valuation metrics, including its Forward P/E ratio of 17.31. This valuation marks a discount compared to its industry's average Forward P/E of 24.51.
Meanwhile, QCOM's PEG ratio is currently 1.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless Equipment industry currently had an average PEG ratio of 2.2 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 116, which puts it in the top 46% 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) Outpaces Stock Market Gains: What You Should Know
Qualcomm (QCOM - Free Report) closed the most recent trading day at $182.74, moving +0.75% from the previous trading session. This change outpaced the S&P 500's 0.62% gain on the day. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the chipmaker had gained 0.37% over the past month, outpacing the Computer and Technology sector's loss of 1.01% and lagging the S&P 500's gain of 0.39% 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 $3, up 38.25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.42 billion, up 26.51% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.48 per share and revenue of $39.38 billion. These totals would mark changes of +22.72% and +17.32%, 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Qualcomm is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Qualcomm's current valuation metrics, including its Forward P/E ratio of 17.31. This valuation marks a discount compared to its industry's average Forward P/E of 24.51.
Meanwhile, QCOM's PEG ratio is currently 1.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless Equipment industry currently had an average PEG ratio of 2.2 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 116, which puts it in the top 46% 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.