In a preview of Qualcomm, Inc. (NASDAQ:QCOM) earnings today after the close of the market, investment strategist Louis Navellier wrote in a note to clients:
Qualcomm's Earnings Announcement
Qualcomm is acting very well today before its earnings announcement today after the market close. Qualcomm is now viewed as a 5G stock that is prospering with the expansion of 5G around the world.
I am expecting QCOM to post a significant positive Q4 earnings surprise. The analyst community is forecasting Q4 sales of $10.42 billion and 38.7% annual operating Q4 earnings growth of $3.01 per share. In the past 3 months, the analyst community has revised their consensus earnings estimate up 16.2%. Typically, positive analyst earnings revisions precede future earnings surprises.
In the past three quarters, Qualcomm's earnings surprises have been 13.8%, 14.3% and 12.8%, respectively.