Qualcomm (QCOM) Stock Moves -0.56%: What You Should Know

Qualcomm (QCOM) ended the recent trading session at $151.94, demonstrating a -0.56% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.91% for the day. Elsewhere, the Dow lost 1.5%, while the tech-heavy Nasdaq lost 1.96%.Heading into today, shares of the chipmaker had lost 10.27% over the past month, outpacing the Computer and Technology sector's loss of 10.57% and lagging the S&P 500's loss of 7.38% in that time.Market participants will be closely following the financial results of Qualcomm in its upcoming release. The company is forecasted to report an EPS of $2.79, showcasing a 14.34% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.59 billion, indicating a 12.82% upward movement from the same quarter last year.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.76 per share and a revenue of $42.92 billion, representing changes of +15.07% and +10.17%, respectively, from the prior year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Qualcomm. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.59% higher. 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 12.99. This valuation marks a discount compared to its industry's average Forward P/E of 25.7.Investors should also note that QCOM has a PEG ratio of 1.41 right now. 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. The average PEG ratio for the Electronics - Semiconductors industry stood at 1.56 at the close of the market yesterday.The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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