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Qualcomm (QCOM) closed the most recent trading day at $130.12, moving -0.06% from the previous trading session. This change lagged the S&P 500's daily gain of 0.34%.
Prior to today's trading, shares of the chipmaker had lost 2.54% over the past month. This has was narrower than the Computer and Technology sector's loss of 2.7% and lagged the S&P 500's loss of 0.12% in that time.
QCOM will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2021. On that day, QCOM is projected to report earnings of $2.26 per share, which would represent year-over-year growth of 55.86%. Meanwhile, our latest consensus estimate is calling for revenue of $8.88 billion, up 6.36% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for QCOM. 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 shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.56% lower within the past month. QCOM is currently a Zacks Rank #3 (Hold).
Digging into valuation, QCOM currently has a Forward P/E ratio of 14.19. This valuation marks a discount compared to its industry's average Forward P/E of 21.86.
Meanwhile, QCOM's PEG ratio is currently 0.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QCOM's industry had an average PEG ratio of 4.02 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report
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