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Qualcomm (QCOM) Stock Moves -0.82%: What You Should Know
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $110.19, marking a -0.82% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the chipmaker had lost 3.71% over the past month, outpacing the Computer and Technology sector's loss of 4.68% and the S&P 500's loss of 4.93% in that time.
Qualcomm will be looking to display strength as it nears its next earnings release. In that report, analysts expect Qualcomm to post earnings of $1.91 per share. This would mark a year-over-year decline of 38.98%. Our most recent consensus estimate is calling for quarterly revenue of $8.51 billion, down 25.3% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Qualcomm. Recent revisions tend to reflect the latest near-term business trends. 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, 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 has moved 0.03% higher within the past month. Qualcomm is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 12.16 right now. Its industry sports an average Forward P/E of 12.61, so we one might conclude that Qualcomm is trading at a discount comparatively.
Meanwhile, QCOM's PEG ratio is currently 0.76. 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. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.33 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Stock Moves -0.82%: What You Should Know
In the latest trading session, Qualcomm (QCOM - Free Report) closed at $110.19, marking a -0.82% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the chipmaker had lost 3.71% over the past month, outpacing the Computer and Technology sector's loss of 4.68% and the S&P 500's loss of 4.93% in that time.
Qualcomm will be looking to display strength as it nears its next earnings release. In that report, analysts expect Qualcomm to post earnings of $1.91 per share. This would mark a year-over-year decline of 38.98%. Our most recent consensus estimate is calling for quarterly revenue of $8.51 billion, down 25.3% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Qualcomm. Recent revisions tend to reflect the latest near-term business trends. 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, 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 has moved 0.03% higher within the past month. Qualcomm is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 12.16 right now. Its industry sports an average Forward P/E of 12.61, so we one might conclude that Qualcomm is trading at a discount comparatively.
Meanwhile, QCOM's PEG ratio is currently 0.76. 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. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.33 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.