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Wednesday, January 03, 2024 11:58:59 AM
By: Schaeffer's Investment Research | January 3, 2024
• Plus, another 25 stocks to avoid this month
• QCOM doesn't have the best January performance track record
Chip stocks were all the rage in 2023 amid artificial intelligence (AI) advancements. While the sector still looks promising, there's one name in particular investors may want to avoid in early 2024. More specifically, Qualcomm Inc (NASDAQ:QCOM) has historically underperformed in January, and seems to be sticking to this trend so far today, last seen down 1.6% at $137.99.
Per data from Schaeffer's Senior Quantitative Analyst Rocky White, QCOM averaged a January loss of 3.3% over the past 10 years, and finished the month in the red seven of those times. A comparable move from the security's current perch would place it below $135.
Shares are today testing support from the 20-day moving average, which has been in place since early November, as they continue to pull back from their Dec. 28, 52-week high of $146.89. Qualcomm stock still sports an impressive 30.8% year-over-year lead.
An unwinding of optimism in the options pits could hurt QCOM. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), QCOM's 50-day call/put volume ratio of 2.01 ranks higher than 89% of readings from the past year.
Premiums are affordably priced, per the equity's Schaeffer's Volatility Index (SVI) of 24% that sits higher than just 10% of annual readings, meaning short-term options are pricing in lower-than-usual volatility expectations.
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Recent QCOM News
- Qualcomm Gewinnmitteilung auf der Investor Relations Website des Unternehmens verfügbar • Business Wire • 05/02/2024 10:15:00 PM
- Le communiqué de presse de Qualcomm est disponible sur le site Web des relations avec les investisseurs de l'entreprise • Business Wire • 05/02/2024 10:15:00 PM
- Carvana Rockets, Qualcomm Likely To Be Strong; DoorDash and Etsy Under Pressure • IH Market News • 05/02/2024 01:11:25 PM
- Qualcomm Earnings Release Available on Company’s Investor Relations Website • Business Wire • 05/01/2024 08:00:00 PM
- Qualcomm annonce la date de publication de ses résultats du deuxième trimestre de l’exercice 2024 et l’organisation d’une conférence téléphonique • Business Wire • 04/19/2024 04:17:00 PM
- Qualcomm gibt Zeitplan für Veröffentlichung der Ergebnisse des zweiten Quartals 2024 und Telefonkonferenz bekannt • Business Wire • 04/19/2024 03:37:00 PM
- Qualcomm Schedules Second Quarter Fiscal 2024 Earnings Release and Conference Call • Business Wire • 04/19/2024 01:00:00 PM
- Qualcomm annonce un dividende trimestriel en espèces • Business Wire • 04/17/2024 08:34:00 PM
- Qualcomm gibt Quartalsbardividende bekannt • Business Wire • 04/17/2024 08:30:00 PM
- Qualcomm Announces Quarterly Cash Dividend • Business Wire • 04/17/2024 01:00:00 PM
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