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Qualcomm (QCOM) Gains As Market Dips: What You Should Know
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $152.82, marking a +0.06% move from the previous day. This move outpaced the S&P 500's daily loss of 1.57%. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the chipmaker had lost 9.76% over the past month, lagging the Computer and Technology sector's gain of 4.23% and the S&P 500's gain of 5.37% in that time.
Investors will be hoping for strength from Qualcomm as it approaches its next earnings release, which is expected to be April 27, 2022. In that report, analysts expect Qualcomm to post earnings of $2.91 per share. This would mark year-over-year growth of 53.16%. Meanwhile, our latest consensus estimate is calling for revenue of $10.59 billion, up 33.46% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $11.76 per share and revenue of $42.39 billion. These results would represent year-over-year changes of +37.7% and +26.3%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Qualcomm is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 12.99 right now. For comparison, its industry has an average Forward P/E of 24.42, which means Qualcomm is trading at a discount to the group.
Meanwhile, QCOM's PEG ratio is currently 0.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 2.23 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 26% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Qualcomm (QCOM - Free Report) closed at $152.82, marking a +0.06% move from the previous day. This move outpaced the S&P 500's daily loss of 1.57%. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the chipmaker had lost 9.76% over the past month, lagging the Computer and Technology sector's gain of 4.23% and the S&P 500's gain of 5.37% in that time.
Investors will be hoping for strength from Qualcomm as it approaches its next earnings release, which is expected to be April 27, 2022. In that report, analysts expect Qualcomm to post earnings of $2.91 per share. This would mark year-over-year growth of 53.16%. Meanwhile, our latest consensus estimate is calling for revenue of $10.59 billion, up 33.46% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $11.76 per share and revenue of $42.39 billion. These results would represent year-over-year changes of +37.7% and +26.3%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Qualcomm is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 12.99 right now. For comparison, its industry has an average Forward P/E of 24.42, which means Qualcomm is trading at a discount to the group.
Meanwhile, QCOM's PEG ratio is currently 0.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 2.23 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 26% 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.