In its latest quarterly earnings report, QCOM showed 1% year-over-year revenue growth after several quarters of declines and increased its net income by 37% year-over-year. The company also increased its dividend for the 21st year in a row.
It’s no wonder QCOM stock is up 45% this year – and it could rise even more. MAPsignals data shows how Big Money investors are betting heavily on the stock’s future outlook.
Qualcomm Stock Reflects Heavy Accumulation
Institutional figures reveal a lot. Over the past year, QCOM has experienced strong investor demand, which we believe is institutional support.
Any green bar indicates unusually high volumes in QCOM stock. They reflect our own inflow signal, driving stocks higher:
There are a lot of technology names on the rise right now. But there’s a powerful fundamental story happening with Qualcomm.
Fundamental analysis of Qualcomm
Institutional backing and a sound fundamental background make this company worth investigating. As you can see, QCOM has seen strong revenue and profit growth:
Source: FactSet
Moreover, earnings per share are expected to increase by +14% this year.
Now it makes sense why the stock has soared to new highs. QCOM has a track record of strong financial performance.
Combining great fundamentals with our proprietary software has created some big winning stocks over the long term.
Qualcomm has been one of the best-rated stocks at MAPsignals for years. That means the stock is experiencing unusual buying pressure and growing fundamentals. We have a ranking process that shows these types of stocks on a weekly basis.
It has been in the rare Top 20 report several times over the past twenty years. The blue bars below show when QCOM was a top pick… and is rising over time:
Tracking unusual volumes reveals the power of money flows.
This is a trait that most outliers exhibit… the best of the best. The demand for big money drives stocks higher.
Qualcomm Price Prediction
The QCOM rally is not new at all. Big Money buying the stock is a signal to pay attention. Given its historical gains and strong fundamentals, this stock could be worth a spot in a diversified portfolio.
Disclosure: The author owns QCOM in personal and managed accounts at the time of publication.
If you’re a Registered Investment Advisor (RIA) or serious investor, you can take your investing to the next level. Read more about the MAPsignals process here.
This article was originally posted on FX Empire
