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Qualcomm (QCOM) Dips More Than Broader Market: What You Should Know
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Qualcomm (QCOM - Free Report) closed at $140.44 in the latest trading session, marking a -1.95% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 1.47%. On the other hand, the Dow registered a loss of 1.27%, and the technology-centric Nasdaq decreased by 1.5%.
Shares of the chipmaker have appreciated by 12.76% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.98% and the S&P 500's gain of 5.77%.
The investment community will be closely monitoring the performance of Qualcomm in its forthcoming earnings report. The company's upcoming EPS is projected at $2.34, signifying a 1.27% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $9.49 billion, up 0.36% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.10 per share and a revenue of $37.38 billion, indicating changes of +7.95% and +4.37%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Qualcomm. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Qualcomm holds a Zacks Rank of #3 (Hold).
In terms of valuation, Qualcomm is presently being traded at a Forward P/E ratio of 15.75. For comparison, its industry has an average Forward P/E of 14.28, which means Qualcomm is trading at a premium to the group.
It's also important to note that QCOM currently trades at a PEG ratio of 1.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 1.28 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Qualcomm (QCOM) Dips More Than Broader Market: What You Should Know
Qualcomm (QCOM - Free Report) closed at $140.44 in the latest trading session, marking a -1.95% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 1.47%. On the other hand, the Dow registered a loss of 1.27%, and the technology-centric Nasdaq decreased by 1.5%.
Shares of the chipmaker have appreciated by 12.76% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.98% and the S&P 500's gain of 5.77%.
The investment community will be closely monitoring the performance of Qualcomm in its forthcoming earnings report. The company's upcoming EPS is projected at $2.34, signifying a 1.27% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $9.49 billion, up 0.36% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.10 per share and a revenue of $37.38 billion, indicating changes of +7.95% and +4.37%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Qualcomm. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Qualcomm holds a Zacks Rank of #3 (Hold).
In terms of valuation, Qualcomm is presently being traded at a Forward P/E ratio of 15.75. For comparison, its industry has an average Forward P/E of 14.28, which means Qualcomm is trading at a premium to the group.
It's also important to note that QCOM currently trades at a PEG ratio of 1.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 1.28 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.