Qualcomm Rising on AI Boom

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 raised its dividend for the 21st consecutive year.

It’s no wonder QCOM shares are up 45% this year – and they could rise more. MAPsignals data shows how Big Money investors are betting heavily on the forward picture of the stock.

Qualcomm Shares Reflect Heavy Accumulation

Institutional volumes reveal plenty. In the last year, QCOM has enjoyed strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in QCOM shares. They reflect our proprietary inflow signal, pushing the stock higher:

Plenty of technology names are under accumulation right now. But there’s a powerful fundamental story happening with Qualcomm.

Qualcomm Fundamental Analysis

Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, QCOM has had strong sales and earnings growth:

• 3-year sales growth rate (+18.5%)
• 3-year EPS growth rate (+25%)

Source: FactSet

Also, EPS is estimated to ramp higher this year by +14%.

Now it makes sense why the stock has been powering to new heights. QCOM has a track record of strong financial performance.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.

Qualcomm has been a top-rated stock at MAPsignals for years. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report multiple times in the last two decades. The blue bars below show when QCOM was a top pick…rising higher with time:

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.

Qualcomm Price Prediction

The QCOM rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price 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 are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.