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By Alex Kolb, analyst, Zacks Investment Research
Shares of QUALCOMM Inc. (NASDAQ:QCOM) are trading about 15% higher than earlier this month, when the company was previously featured. Also, as was the case when previously featured, QCOM continues to trade close to a 52-week high. Wall Street forecasts are also higher now. Current earnings estimates of $1.95 per share for the year ending September 2008 are last month's $1.91.
The company posted a strong fiscal third quarter, noting that it delivered record revenues that were up by 19 % year-over-year. QCOM's third-quarter (GAAP) net income also increased year-over-year.
The Zacks Rank #1 (Strong Buy) company continues to offer a ROE of 20%, squashing the industry average of 2%. Its yield of 1.2% stands out as the company operates in an industry that virtually pays no dividend. QCOM's earnings per share are expected to grow by 19% over the next 3 – 5 years, versus the industry average of 17%. Read our Jul 10, 2008 analysis.
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