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Qualcomm (QCOM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $164.98, marking a -0.95% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.75% for the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 1%.
Heading into today, shares of the chipmaker had lost 0.35% over the past month, lagging the Computer and Technology sector's gain of 2.48% and the S&P 500's gain of 4.03% in that time.
Market participants will be closely following the financial results of Qualcomm in its upcoming release. The company's upcoming EPS is projected at $2.56, signifying a 26.73% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.9 billion, reflecting a 14.67% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.03 per share and a revenue of $38.6 billion, representing changes of +18.98% and +7.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Qualcomm. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.29% increase. Qualcomm currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 16.6 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 16.6.
It is also worth noting that QCOM currently has a PEG ratio of 1.46. 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. By the end of yesterday's trading, the Wireless Equipment industry had an average PEG ratio of 2.48.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 43% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Qualcomm (QCOM - Free Report) closed at $164.98, marking a -0.95% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.75% for the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 1%.
Heading into today, shares of the chipmaker had lost 0.35% over the past month, lagging the Computer and Technology sector's gain of 2.48% and the S&P 500's gain of 4.03% in that time.
Market participants will be closely following the financial results of Qualcomm in its upcoming release. The company's upcoming EPS is projected at $2.56, signifying a 26.73% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.9 billion, reflecting a 14.67% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.03 per share and a revenue of $38.6 billion, representing changes of +18.98% and +7.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Qualcomm. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.29% increase. Qualcomm currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Qualcomm has a Forward P/E ratio of 16.6 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 16.6.
It is also worth noting that QCOM currently has a PEG ratio of 1.46. 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. By the end of yesterday's trading, the Wireless Equipment industry had an average PEG ratio of 2.48.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 43% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.