Earnings Estimates Moving Higher for QUALCOMM (QCOM): Time to Buy?

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QUALCOMM IncorporatedQCOM is a global leader in production and commercialization of technologies and products used in mobile devices, network equipment and other wireless products, that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on QCOM's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that QUALCOMM could be a solid choice for investors.

Current Quarter Estimates for QCOM

In the past 30 days, four estimates have gone higher for QUALCOMM while two have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 79 cents a share 30 days ago, to 82 cents today, a move of 3.8%.

Current Year Estimates for QCOM

Meanwhile, QUALCOMM's current year figures are also looking quite promising, with eight estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.32 per share 30 days ago to $3.61 per share today, an increase of 8.7%.

QUALCOMM Incorporated Price and Consensus

QUALCOMM Incorporated Price and Consensus | QUALCOMM Incorporated Quote

Bottom Line

The stock has also started to move higher lately, adding 11.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see  the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Earnings , Investing Ideas , Stocks
Referenced Symbols: QCOM

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