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Qualcomm To Surprise To Upside Today, Strategist Says

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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:

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Q4 2021 hedge fund letters, conferences and more

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.

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Louis Navellier

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