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Qualcomm (QCOM) Dips More Than Broader Markets: What You Should Know
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Qualcomm (QCOM - Free Report) closed the most recent trading day at $108.64, moving -1.26% from the previous trading session. This move lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.27%.
Prior to today's trading, shares of the chipmaker had lost 11.93% over the past month. This has was narrower than the Computer and Technology sector's loss of 14.71% and lagged the S&P 500's loss of 11.67% 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 November 2, 2022. On that day, Qualcomm is projected to report earnings of $3.15 per share, which would represent year-over-year growth of 23.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.38 billion, up 21.91% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Qualcomm. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% lower. Qualcomm currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Qualcomm currently has a Forward P/E ratio of 8.67. This represents a discount compared to its industry's average Forward P/E of 19.4.
Also, we should mention that QCOM has a PEG ratio of 0.56. 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 2.04 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 56, which puts it in the top 23% 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) Dips More Than Broader Markets: What You Should Know
Qualcomm (QCOM - Free Report) closed the most recent trading day at $108.64, moving -1.26% from the previous trading session. This move lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.27%.
Prior to today's trading, shares of the chipmaker had lost 11.93% over the past month. This has was narrower than the Computer and Technology sector's loss of 14.71% and lagged the S&P 500's loss of 11.67% 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 November 2, 2022. On that day, Qualcomm is projected to report earnings of $3.15 per share, which would represent year-over-year growth of 23.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.38 billion, up 21.91% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Qualcomm. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% lower. Qualcomm currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Qualcomm currently has a Forward P/E ratio of 8.67. This represents a discount compared to its industry's average Forward P/E of 19.4.
Also, we should mention that QCOM has a PEG ratio of 0.56. 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 2.04 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 56, which puts it in the top 23% 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.