QCOM looks alot like AMD a week ago
QCOM is a good company with great tailwind for continued success. Their snapdragon processors for android devices continue to improve, and they are attractively priced relative to other semiconductors.
QCOM beat on EPS, but slightly missed on revenue. However, given broader demand shocks for semis, I would not be surprised at beats in the future when supply picks up to meet the demand.
Having beat on EPS and gapping down, this is a blessing. Buy in! A lower priced asset of a quality company will yield greater expected returns than that same asset at a higher price. Having confirmed QCOM's strength and settling price at support, I believe now is the time to pick up some QCOM.
Now, why does QCOM look like AMD? Well, AMD a week ago was settling above a gap after an earnings call. The 100MA quickly moved up and became a support. A few trading days later, there was a bounce from 88 to 92 as of writing. AMD also suffered from multiple compression after an EPS beat.
If you aren't convinced of a long term investment into QCOM, I think a bounce play can be found here.
As a broke college student, I have put my money where my mouth is and purchased an entire (1) share(s). Wish you all the best in making tendies, and thank you for reading my analysis.
QCOM beat on EPS, but slightly missed on revenue. However, given broader demand shocks for semis, I would not be surprised at beats in the future when supply picks up to meet the demand.
Having beat on EPS and gapping down, this is a blessing. Buy in! A lower priced asset of a quality company will yield greater expected returns than that same asset at a higher price. Having confirmed QCOM's strength and settling price at support, I believe now is the time to pick up some QCOM.
Now, why does QCOM look like AMD? Well, AMD a week ago was settling above a gap after an earnings call. The 100MA quickly moved up and became a support. A few trading days later, there was a bounce from 88 to 92 as of writing. AMD also suffered from multiple compression after an EPS beat.
If you aren't convinced of a long term investment into QCOM, I think a bounce play can be found here.
As a broke college student, I have put my money where my mouth is and purchased an entire (1) share(s). Wish you all the best in making tendies, and thank you for reading my analysis.
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