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John Paul

Qualcomm Could Be a Major Growth Stock

QCOM is strategically positioned to grow regardless of how any of the mobile device manufacturers perform in the marketplace. The mobile market is growing - and it is growing fast. QCOM's growth can be measured linearly to the industry growth.

Current year 2013 earnings estimates are $4.49. Look forward to 2014 and consensus is currently at $4.85, an 8% increase year over year. Revenues are also expected to grow 10.8% in FY 2014. Analyst projections have often fell short at QCOM. Adjusting forward earnings based on the average quarterly outperformance over the past year, earnings growth actually tops 14.4%. Finally, QCOM's 5-year growth projections are 14.68% per year, while its industry peers are expected to grow at 13.77%. The outperforming growth story of QCOM is still very real.

The most recent earnings outperformance occurred last quarter - QCOM topped The Street's earnings estimates by 11.5%. The stock price jumped 7% but has since pulled back down back into its trading range. Without too much technical analysis, it should still be noted that the stock price has remained above both the 50 and 200-day moving averages, which is a tremendous sign of strength in the market. The stock closed at $65.43after Friday's trading session, -0.10 (-.15%). At this level, it is nearly touching the positive trend line that initiated in mid-December. Since the trend began, the stock price has touched the trend line three times, and every time there has been at least a 6% bounce in the original positive direction of the trend. From a technical perspective, we're close to that bounce.

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