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Qualcomm (QCOM) Stock: Why This Chipmaker Just Got a Buy Rating Boost
Qualcomm (QCOM) stock has recently received a boost in the form of a rating upgrade from Zacks Investment Research. The company’s strong earnings trends and consistent ability to exceed analyst expectations have contributed to this decision.
Recent financials have been impressive, with Qualcomm exceeding revenue projections and reporting significant year-over-year growth. The company has consistently exceeded both sales and earnings estimates over the past four quarters, demonstrating a remarkable track record of outperformance.
As a result, analysts have revised their projections upward, reflecting their growing confidence in Qualcomm’s potential for continued success. In fact, the Zacks Consensus Estimate for the current quarter is $10.6 billion, representing a 12.9% year-over-year increase. Additionally, estimates for the full fiscal years suggest growth of 11.3% and 4.8% for the current and next fiscal years, respectively.
Qualcomm’s recent quarterly performance has also exceeded expectations, with revenues reaching an impressive $11.67 billion and a substantial earnings surprise of 16.38%. The company’s ability to consistently surpass analyst estimates has led to this upgraded rating from Zacks Investment Research.
In addition to its financial performance, Qualcomm has demonstrated solid value compared to its peers in the industry. Its Value Style Score is a B grade, indicating that it may be undervalued relative to other companies in the same sector.
Qualcomm’s recent upgrade highlights the importance of earnings estimates and a company’s ability to consistently meet or exceed these projections. Zacks Consensus Estimate revisions can have significant implications for investor decisions and market sentiment.
As investors continue to evaluate Qualcomm stock, they should consider this rating boost as a strong signal of the company’s potential for continued growth and profitability.
Source: https://coincentral.com/qualcomm-qcom-stock-why-this-chipmaker-just-got-a-buy-rating-boost/
