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Qualcomm reports its quarterly earnings on Wednesday, at 23:45 MT time, with the expected EPS of $1.87.
What are we in for?
As one of the primary Apple suppliers, Qualcomm doesn’t only produce wireless chips but operates in cloud gaming and wireless car networking. It has been facing certain headwinds during recent years related to its own financial performance as much as the industry-wide problems. Nevertheless, the business outlook remains strong for this company as it already showed the capacity to make a strong comeback from the virus hit. Among its first competitors such as AMD and Nvidia (which you can also trade with FBS Trader), it looks very solid and competitive. With the SMR Rating as A (which is second-best after A+), Qualcomm’s EPS has 76 out of 99 possible points in EPS Rating. Therefore, currently, this stock appears to be a very option in the mid-term and long-term.
Until 2020, Qualcomm’s stock has been fluctuating around $70. That reflects the fact that it wasn’t making consistent returns back then. However, since early 2019, its trajectory transformed into a steady uptrend. That uptrend was crushed by the virus in March 2020 forcing it from nearly $100 down to $60. Since then – meaning, roughly during a year – the stock made a stunning comeback and leaped to the current $160. From the ashes, it made a 200% rise.
Scenario 1, beating the expectations: if that’s the case, this stock will likely cross the local resistance of $168 and move to $173
Scenario 2, underperforming: if the market is not impressed, the stock may go for a local drop down to $155 or slightly below, but then it will quickly recover and continue the uptrend.
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Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
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