QUALCOMM Incorporated (QCOM) : Analyst Rating Update

QUALCOMM Incorporated (QCOM) : 21 analysts are covering QUALCOMM Incorporated (QCOM) and their average rating on the stock is 2.29, which is read as a Buy. 8 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. QUALCOMM Incorporated (QCOM) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 11 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

QUALCOMM Incorporated (QCOM) has been rated by 17 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $65 and the lowest price target forecast is $39. The average forecast of all the analysts is $57.18 and the expected standard deviation is $7.37.

QUALCOMM Incorporated (NASDAQ:QCOM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $51.57 and $51.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $52.53. The buying momentum continued till the end and the stock did not give up its gains. It closed at $52.37, notching a gain of 0.83% for the day. The total traded volume was 7,740,722 . The stock had closed at $51.94 on the previous day.

Also, Major Brokerage house, Evercore ISI Group downgrades its ratings on QUALCOMM Incorporated (NASDAQ:QCOM). According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on July 1, 2016. The company shares have dropped -16.10% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $66.05 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $53.91 and the 200 Day Moving Average price is recorded at $50.73.

Qualcomm Incorporated (Qualcomm) is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. The Companys products include 2net, AllPlay, Brew, Gobi, Halo, HealthyCircles, Hy-Fi, IPQ, IZat, Pixtronix, Powerline, QChat, QLearn, Small Cells, Snapdragon, Vive, RaptorQ, Vuforia and WiPower. AllPlay helps manufacturers create devices and services. It also helps developers create Android and iPhone operating system (iOS) music streaming applications. The Companys Brew platform enables feature phone applications, such as gaming, messaging, Web browsing and social networking. Qualcomm Gobi modems connect users devices to 3G, 4G, and 4G long-term evolution (LTE) networks. Qualcomm Halo technology eliminates the need for plug-in cords for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points, creating networks by plugging in.

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