Qualcomm (QCOM) Stock Moves -0.81%: What You Should Know
Qualcomm (QCOM) closed the most recent trading day at $119.54, moving -0.81% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.4%. At the same time, the Dow lost 1.34%, and the tech-heavy Nasdaq lost 1.57%.
Coming into today, shares of the chipmaker had gained 3.92% in the past month. In that same time, the Computer and Technology sector lost 0.17%, while the S&P 500 lost 0.46%.
Investors will be hoping for strength from QCOM as it approaches its next earnings release. In that report, analysts expect QCOM to post earnings of $1.13 per share. This would mark year-over-year growth of 44.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.94 billion, up 23.29% from the year-ago period.
It is also important to note the recent changes to analyst estimates for QCOM. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. QCOM is currently a Zacks Rank #3 (Hold).
In terms of valuation, QCOM is currently trading at a Forward P/E ratio of 18.56. This represents a discount compared to its industry's average Forward P/E of 19.17.
Meanwhile, QCOM's PEG ratio is currently 0.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. QCOM's industry had an average PEG ratio of 1.78 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report
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