Its time to breakdown the last of the 5G stocks on my list. $QCOM or Qualcomm is on deck.
Current Price: $88.81
52/Wk High: $96.17
52/Wk Low: $58.00
Read below for the breakdown!
Qualcomm is a massive chipmaker that has pushed a large portion of its portfolio into the 5G realm.
The company is set to benefit from Apple’s 5G iPhone rollout given that it is one of the main Apple chip suppliers for at least the next 6 years.
Not only that but $QCOM is also consistently creating new hardware that supports 5G and they are very much preparing to take advantage of the boom.
Surprisingly analyst also expects revenue to grow this year, outpacing competitors. At the moment it is expected that Qualcomm will see revenue growth of 7.5% this year and given that competitors like $NVDA and $AMD have seen the same type of growth so far, we can expect the same with Qualcomm.
$QCOM has delivered 10 straight quarterly earnings beats and the last report was no different. Qualcomm recently reported a $0.88 EPS beat versus the $0.78 EPS consensus. Revenue also came in at a steller $5.3 billion.
Their cash position also has a great foothold so far with a $9.946 billion cash on hand level. This is good news but it is a decline from last year by 3.72%.
Analysts are also bullish on the name. Currently, the average price target is $91.00/share but the high is $105.00/share. With the upcoming 5G catalyst though, I think price targets will continue to move north.
Big money is also betting big on the name with the company being owned 75.82% by institutions. The biggest holders are Vanguard Group, Blackrock, and FMR group.
Overall I like the name but am new to it. I do not currently hold a position in $QCOM but am searching for a good entry point at the moment.
Disclaimer: This is not financial advice, simply opinion based on independent research.