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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 $109.22, moving -1.35% from the previous trading session. This change lagged the S&P 500's 0.94% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 1.53%.
Prior to today's trading, shares of the chipmaker had gained 1.14% over the past month. This has lagged the Computer and Technology sector's gain of 3.69% and the S&P 500's gain of 1.85% 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 $1.91, down 38.98% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.51 billion, down 25.29% from the year-ago period.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $8.31 per share and revenue of $35.69 billion. These results would represent year-over-year changes of -33.68% and -19.26%, respectively.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Qualcomm currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Qualcomm currently has a Forward P/E ratio of 13.32. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 13.32.
It is also worth noting that QCOM currently has a PEG ratio of 0.83. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QCOM's industry had an average PEG ratio of 1.34 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 101, which puts it in the top 41% 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.
To follow QCOM in the coming trading sessions, be sure to utilize 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 $109.22, moving -1.35% from the previous trading session. This change lagged the S&P 500's 0.94% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 1.53%.
Prior to today's trading, shares of the chipmaker had gained 1.14% over the past month. This has lagged the Computer and Technology sector's gain of 3.69% and the S&P 500's gain of 1.85% 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 $1.91, down 38.98% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.51 billion, down 25.29% from the year-ago period.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $8.31 per share and revenue of $35.69 billion. These results would represent year-over-year changes of -33.68% and -19.26%, respectively.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Qualcomm currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Qualcomm currently has a Forward P/E ratio of 13.32. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 13.32.
It is also worth noting that QCOM currently has a PEG ratio of 0.83. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QCOM's industry had an average PEG ratio of 1.34 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 101, which puts it in the top 41% 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.
To follow QCOM in the coming trading sessions, be sure to utilize Zacks.com.