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Qualcomm (QCOM) in Focus: Stock Moves 5.8% Higher

Zacks Equity Research

Qualcomm Incorporated QCOM was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $55.90 to $81.97 in the past one-month time frame.

The upmove came after Morgan Stanley analyst upgraded the stock and also raised target price.

The company has seen one negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Qualcomm currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

QUALCOMM Incorporated Price

QUALCOMM Incorporated Price | QUALCOMM Incorporated Quote

Investors interested in the Wireless Equipment industry may consider Ericsson ERIC, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is QCOM going up? Or down? Predict to see what others think:Up or Down

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