Qualcomm (QCOM) Outperforms Broader Market: What You Need to Know

Qualcomm (QCOM) closed at $162.32 in the latest trading session, marking a +1.83% move from the prior day. This move outpaced the S&P 500's daily gain of 0.48%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.94%. Coming into today, shares of the chipmaker had gained 7.02% in the past month. In that same time, the Computer and Technology sector gained 7.61%, while the S&P 500 gained 5.13%. Analysts and investors alike will be keeping a close eye on the performance of Qualcomm in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.68, signifying a 15.02% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $10.35 billion, indicating a 10.24% upward movement from the same quarter last year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.71 per share and a revenue of $43.54 billion, representing changes of +14.58% and +11.76%, respectively, from the prior year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Qualcomm. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% higher. At present, Qualcomm boasts a Zacks Rank of #3 (Hold). In the context of valuation, Qualcomm is at present trading with a Forward P/E ratio of 13.62. This valuation marks a discount compared to its industry average Forward P/E of 27.35. Investors should also note that QCOM has a PEG ratio of 1.66 right now. 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. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 1.59. The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QUALCOMM Incorporated (QCOM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks