Qualcomm Inc (QCOM)

[DiscoverGold]

Has QUALCOMM (QCOM) Outpaced Other Computer and Technology Stocks This Year?
By: Zacks Equity Research | December 16, 2019

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is QUALCOMM (QCOM) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

QUALCOMM is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. QCOM is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for QCOM's full-year earnings has moved 5.72% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, QCOM has gained about 54.33% so far this year. In comparison, Computer and Technology companies have returned an average of 31.47%. This means that QUALCOMM is performing better than its sector in terms of year-to-date returns.

Looking more specifically, QCOM belongs to the Wireless Equipment industry, which includes 14 individual stocks and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 25.21% so far this year, meaning that QCOM is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to QCOM as it looks to continue its solid performance.

Read Full Story »»»

DiscoverGold