Qualcomm (QCOM) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Qualcomm (QCOM) closed the most recent trading day at $151.30, moving -1.52% from the previous trading session. This change lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.51%. Shares of the chipmaker have appreciated by 4.25% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.98%, and the S&P 500's gain of 0.45%.Investors will be eagerly watching for the performance of Qualcomm in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.68, reflecting a 15.02% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $10.35 billion, up 10.24% from the prior-year quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.71 per share and revenue of $43.54 billion. These totals would mark changes of +14.58% and +11.76%, respectively, from last year. Investors should also take note of any recent adjustments to analyst estimates for Qualcomm. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. 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 has moved 0.07% higher within the past month. As of now, Qualcomm holds a Zacks Rank of #3 (Hold). Looking at valuation, Qualcomm is presently trading at a Forward P/E ratio of 13.13. Its industry sports an average Forward P/E of 25.57, so one might conclude that Qualcomm is trading at a discount comparatively. It is also worth noting that QCOM currently has a PEG ratio of 1.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Electronics - Semiconductors industry had an average PEG ratio of 1.6 as trading concluded yesterday. The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 82, putting it in the top 34% of all 250+ industries. The Zacks Industry Rank is ordered 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. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want 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