Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
Qualcomm (QCOM) closed at $ 69.93 in the last trading session, marking a + 0.49% move from the previous day. The share exceeded the daily gain of S & P 500 by 0.41%. Elsewhere, Dow achieved 0.39% while the tech-heavy Nasdaq added 0.57%.
In today's chip, chip maker stocks had lost 19.33% over the past month, causing the Computer and Technology sector to lose 2.4% and the S & P 500's gain of 0.1. % in that time.
Investors will hope for strength from QCOM as it approaches the next earnings release. In this report, analysts expect QCOM to place an income of $ 0.77 per share. This will mark a decline of 23.76% from year to year. Our latest consensus estimate calls quarterly revenues of $ 5.11 billion, down 8.74% from the previous period.
Our Zacks Consensus Estimates project revenue of $ 3.85 per share and revenue of $ 20.64 billion for the full year. would make changes of + 4.34% and -9.2%, respectively, from the year before.
Investors should also note any recent changes in analytical estimates for QCOM. These latest revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business prospects.
Our research shows that these estimate changes are directly correlated with long-term stock prices. We developed the Zacks Rank to take advantage of this phenomenon. Our system takes these estimate changes into account and provides a clear, usable assessment model.
The Zacks Rank system, which ranges from # 1 (Strong Buy) to # 5 (Strong Sell), has an impressive outline of external overhaul, with # 1 shares generating an average annual return of + 25% since 1988. Within the last 30 days, our consensus EPS projection has moved to 0.17% lower. QCOM currently has a Zacks ranking of # 3 (Hold).
Excavation in valuation has QCOM a Forward P / E ratio of 18.09. By comparison, the industry has an average Forward P / E of 24.31, which means that QCOM trades at a discount to the group.
Also, we should mention that QCOM has a PEG ratio of 1.32. This popular metric is similar to the known P / E ratio, as the difference is that the PEG ratio also takes into account the company's expected earnings growth. QCOM's industry had an average PEG ratio of 2.89 in yesterday's vicinity.
The wireless equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 12 and puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes are listed in order from best to worst compared to the average Zacks Rank of the individual companies within each of these sectors. Our studies show that top 50% nominal industries exceed the bottom half by a factor of 2 to 1.
Be sure to use Zacks. Will follow all these stock movements, and more, in the upcoming trading sessions.
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QUALCOMM Incorporated (QCOM): Free Stock Analysis Report
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QUALCOMM Incorporated (QCOM): Free Stock Analysis Report
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