Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Here’s Why Qualcomm (QCOM) Stock is Down Today

[at TheStreet] – Qualcomm (QCOM) stock is declining after analysts said the company could lose some of its iPhone chip business to Intel (INTC). Read more on this. QUALCOMM Incorporated (QCOM) , valued at $77.66B, began trading this morning at $52.41. Looking at today’s trading action, the company’s one day range from $51.74 to $52.52 with a one year range of $42.24 to $71.90. QCOM shares are currently priced at 12.80x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 20.86x forward p/e ratio. And for income investors, the company pays shareholders $1.92 per share annually in dividends, yielding 3.65%. According to a consensus of 27 analysts, the earnings estimate of $0.96 per share would be $0.44 worse than the year-ago quarter and a $0.06 sequential decrease. Investors should also note that the full-year EPS estimate of $4.10 is a $0.56 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.33 Billion. If reported, that would be a 22.64% decrease over the year-ago quarter. Recently, Bernstein upgraded QCOM from Mkt Perform to Outperform (Feb 16, 2016). Previously, Susquehanna upgraded QCOM from Neutral to Positive. When considering if the stock is under or overvalued, the average price target is $57.55, which is 9.81% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm Settles With SEC Over FCPA Violations Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm Earnings Preview: Has This Chipmaker Finally Bottomed? Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Is Qualcomm Stock Suitable for Your IRA or Roth IRA?