Qualcomm (QCOM) Stock Slides as Market Rises: Facts to Know Before You Trade

Qualcomm (QCOM) closed the most recent trading day at $159.08, moving -0.9% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.06%.Shares of the chipmaker witnessed a gain of 2.59% over the previous month, beating the performance of the Computer and Technology sector with its loss of 0.17% and the S&P 500's loss of 2.8%.The investment community will be closely monitoring the performance of Qualcomm in its forthcoming earnings report. The company is scheduled to release its earnings on February 5, 2025. In that report, analysts expect Qualcomm to post earnings of $2.92 per share. This would mark year-over-year growth of 6.18%. Meanwhile, the latest consensus estimate predicts the revenue to be $10.89 billion, indicating a 9.61% increase compared to the same quarter of the previous year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.14 per share and a revenue of $42.19 billion, indicating changes of +9% and +8.29%, respectively, from the former year.Any recent changes to analyst estimates for Qualcomm should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Qualcomm is carrying a Zacks Rank of #2 (Buy).Digging into valuation, Qualcomm currently has a Forward P/E ratio of 14.41. This signifies a discount in comparison to the average Forward P/E of 16.42 for its industry.Also, we should mention that QCOM has a PEG ratio of 2.19. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Wireless Equipment industry had an average PEG ratio of 3.09 as trading concluded yesterday.The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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 +24.1% 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks