Fri Dec 20 22:20:00 UTC 2024: ## Qualcomm (QCOM) Stock Dips Slightly Despite Positive Earnings Outlook

**NEW YORK, NY** – Qualcomm (QCOM) closed at $150.40 on [Date], a 1.73% decrease from the previous day’s closing price. While this underperformed the S&P 500’s slight dip (0.09%), it contrasted with gains in the Dow (0.04%) and losses in the Nasdaq (0.1%). Over the past month, QCOM shares have fallen 0.79%, lagging behind the Computer and Technology sector’s 3.04% growth.

Despite the recent dip, analysts remain optimistic about Qualcomm’s future. The company is expected to report earnings per share (EPS) of $2.92 for the upcoming quarter, a 6.18% increase year-over-year. Revenue is projected at $10.89 billion, representing a 9.61% rise compared to the same quarter last year. Full-year estimates predict EPS of $11.14 and revenue of $42.19 billion, signifying year-over-year growth of 9% and 8.29%, respectively.

Recent upward revisions to EPS estimates, currently at 0.45% higher, further bolster positive sentiment. This positive outlook, coupled with Qualcomm’s Zacks Rank #2 (Buy) rating, signals strong buying potential for investors. The company currently trades at a forward P/E ratio of 13.73, a discount compared to its industry average of 16.09. Its PEG ratio of 2.09 also stands below the industry average of 3.35.

The Wireless Equipment industry, part of the Computer and Technology sector, enjoys a Zacks Industry Rank of 49, placing it in the top 20%. This ranking, based on the average Zacks Rank of individual stocks within the industry, reflects its strong overall performance potential.

Investors are advised to monitor Qualcomm’s upcoming earnings report and track key metrics such as EPS, revenue projections, and Zacks Rank for potential investment opportunities.

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