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Qualcomm Stock Dips Amidst Earnings Concerns
3 Oct
Summary
- Qualcomm stock experienced a 1.53% gain, outperforming S&P 500.
- Analysts project a 27% decrease in earnings per share year-over-year.
- Qualcomm trades at a discount compared to its industry's average P/E.
Qualcomm (QCOM) recently closed trading at $184.87, marking a 1.53% increase for the day, a performance that outpaced the broader S&P 500. The stock has also seen positive momentum over the past month, gaining 8.02%.
Investor attention is now fixed on the company's upcoming earnings report. Analysts anticipate a 27% year-over-year decline in earnings per share, with projected revenues also expected to fall by 9.83% compared to the same quarter last year.
For the full fiscal year, projections indicate a decrease in both earnings and revenue compared to the prior year. These estimates are subject to change, reflecting evolving business trends. Qualcomm currently holds a Zacks Rank of #4 (Sell), despite trading at a Forward P/E ratio of 18.17, which is below the industry average.
