{"id":1420,"date":"2023-01-25T15:49:18","date_gmt":"2023-01-25T15:49:18","guid":{"rendered":"https:\/\/tradersontrend.com\/?p=1420"},"modified":"2023-01-25T15:49:18","modified_gmt":"2023-01-25T15:49:18","slug":"after-receiving-rating-upgrades-is-it-time-to-buy-qualcomm","status":"publish","type":"post","link":"https:\/\/tradersontrend.com\/h\/2023\/01\/25\/after-receiving-rating-upgrades-is-it-time-to-buy-qualcomm\/","title":{"rendered":"After Receiving Rating Upgrades, Is it Time to Buy Qualcomm?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1420\" class=\"elementor elementor-1420\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3861f4c5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3861f4c5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7f44e363\" data-id=\"7f44e363\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-687f50ea elementor-widget elementor-widget-text-editor\" data-id=\"687f50ea\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 26-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Qualcomm (<a href=\"https:\/\/www.google.com\/finance\/quote\/QCOM:NASDAQ\">NASDAQ: QCOM<\/a>) shares continue to rise on the day after the company earned a bullish upgrade from Barclays. An upgrade so soon to the company&#8217;s quarterly earnings report, which is scheduled on February 1, is a positive indication for a stock that has been on many investors&#8217; radars in recent months.<br \/><br \/>The rating also implies that the QCOM stock bounce, which is currently up more than 8% for the week as of mid-morning trading on Jan. 24, is about more than a resurgence of the risk-on trade in technology stocks but does the rally have enough legs to make this a good time to buy?<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">What Did the Experts Say?<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">Qualcomm was upgraded from Equal Weight to Overweight by Barclays on January 23. An <\/span><a style=\"font-family: inherit;\" href=\"https:\/\/www.investopedia.com\/ask\/answers\/050115\/why-do-analysts-sometimes-give-overweight-recommendation-stock.asp#:~:text=Typically%2C%20an%20overweight%20rating%20on,to%20when%20issuing%20the%20rating.\">Overweight rating<\/a><span style=\"font-family: inherit;\"> indicates that the analyst feels Qualcomm will outperform the market. The anticipation of growth once China reopens is one reason for the boost. Qualcomm is a semiconductor company that is highly reliant on the consumer market.<\/span><\/p><p>Furthermore, the brokerage raised its price estimate on QCOM stock to $150 from $120 previously. This puts Barclays&#8217; (<a href=\"https:\/\/www.google.com\/finance\/quote\/BARC:LON\">LON: BARC<\/a>) prediction around 15% lower than the consensus estimate of most analysts. However, it still implies an almost 20% increase over the current stock price.<\/p><p>And Qualcomm was not the only chipmaker to benefit from Barclays&#8217; upgrade. On the basis of predicted demand for its data center chips, the firm upgraded Advanced Micro Devices (<a href=\"https:\/\/www.google.com\/finance\/quote\/AMD:NASDAQ\">NASDAQ: AMD<\/a>) to Overweight.<\/p><p>The brokerage also kept its Overweight recommendation on NVIDIA (<a href=\"https:\/\/www.google.com\/finance\/quote\/NVDA:NASDAQ\">NASDAQ: NVDA<\/a>), defying expectations for a bleak near-term outlook. One of the reasons for this is the anticipated increase among their artificial intelligence (AI) customers.<\/p><p>This month, each of these equities is up more than 20%, outperforming the entire sector, which is up more than 11%.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">Is it Time to Invest in QCOM?<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">Despite the recent surge, Qualcomm appears to be the most undervalued semiconductor stock. QCOM stock is still down 22% over the last year. The stock is also far from its all-time high of more than $180 a share, which it reached just over a year ago.<\/span><\/p><p>The stock has a P\/E ratio of roughly 11x earnings. This is less than the industry average of about 17x earnings. It&#8217;s also significantly lower than AMD&#8217;s (44x earnings) and NVDA&#8217;s (44x earnings) values (81x earnings).<\/p><p>Qualcomm also pays a consistent dividend. However, the yield of about 2.27% is not particularly noteworthy. The yearly dividend is $3 per share, and the payout has been increasing for the last 20 years.<\/p><p>The market remains unpredictable, and investors should approach with caution, as a <a href=\"https:\/\/finance.yahoo.com\/calendar\/earnings\/\">wave of earnings reports<\/a> from technology companies are due in the next two weeks.<\/p><p>That doesn&#8217;t imply you should consider selling. However, you should brace yourself for volatility. Earnings reports are backward-looking, despite providing some forward guidance. Analyst reports are estimates of future growth.<\/p><p>In a cyclical industry like semiconductors, the disparity between past and future performance might be significant. And public opinion can shift swiftly.<\/p><p>If you have a long position, now is the time to dollar-cost average it and hunt for opportunities to enter QCOM at the best price.<\/p><p><em>For More Stocks And Investment Related News, Click\u00a0<a href=\"https:\/\/tradersontrend.com\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/tradersontrend.com\/&amp;source=gmail&amp;ust=1674737541989000&amp;usg=AOvVaw0mHpEfAAI11ACE9eEEkOLC\">Here<\/a>.<\/em><\/p><p>\u00a0<\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Qualcomm (NASDAQ: QCOM) shares continue to rise on the day after the company earned a bullish upgrade from Barclays. An upgrade so soon to the company&#8217;s quarterly earnings report, which is scheduled on February 1, is a positive indication for a stock that has been on many investors&#8217; radars in recent months. The rating also&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[59,480,481,531],"class_list":["post-1420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","tag-barclays","tag-qcom","tag-qualcomm","tag-semiconductor"],"_links":{"self":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/comments?post=1420"}],"version-history":[{"count":0,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media\/1421"}],"wp:attachment":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media?parent=1420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/categories?post=1420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/tags?post=1420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}