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Qualcomm (QCOM) Gains As Market Dips: What You Should Know
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Qualcomm (QCOM - Free Report) closed the most recent trading day at $132.97, moving +0.55% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.92%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the chipmaker had gained 2.78% over the past month, outpacing the Computer and Technology sector's loss of 0.73% and the S&P 500's loss of 1% in that time.
Wall Street will be looking for positivity from Qualcomm as it approaches its next earnings report date. This is expected to be July 27, 2022. On that day, Qualcomm is projected to report earnings of $2.86 per share, which would represent year-over-year growth of 48.96%. Our most recent consensus estimate is calling for quarterly revenue of $10.89 billion, up 35.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.54 per share and revenue of $44.75 billion, which would represent changes of +46.84% and +33.31%, respectively, from the prior year.
Any recent changes to analyst estimates for Qualcomm should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Qualcomm is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 10.55 right now. This represents a discount compared to its industry's average Forward P/E of 18.1.
Investors should also note that QCOM has a PEG ratio of 0.63 right now. 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 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 140, which puts it in the bottom 45% 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.
To follow QCOM in the coming trading sessions, be sure to utilize Zacks.com.
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Qualcomm (QCOM) Gains As Market Dips: What You Should Know
Qualcomm (QCOM - Free Report) closed the most recent trading day at $132.97, moving +0.55% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.92%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the chipmaker had gained 2.78% over the past month, outpacing the Computer and Technology sector's loss of 0.73% and the S&P 500's loss of 1% in that time.
Wall Street will be looking for positivity from Qualcomm as it approaches its next earnings report date. This is expected to be July 27, 2022. On that day, Qualcomm is projected to report earnings of $2.86 per share, which would represent year-over-year growth of 48.96%. Our most recent consensus estimate is calling for quarterly revenue of $10.89 billion, up 35.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.54 per share and revenue of $44.75 billion, which would represent changes of +46.84% and +33.31%, respectively, from the prior year.
Any recent changes to analyst estimates for Qualcomm should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Qualcomm is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 10.55 right now. This represents a discount compared to its industry's average Forward P/E of 18.1.
Investors should also note that QCOM has a PEG ratio of 0.63 right now. 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 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 140, which puts it in the bottom 45% 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.
To follow QCOM in the coming trading sessions, be sure to utilize Zacks.com.