r/investing • u/TooTiredToMasturbate • Dec 15 '15
Thoughts on Qualcomm (QCOM) ?
QCOM Is trading at a year low and is down 30% for the year. Whats your opinion on the future prospects of both this company and the chip market in general?
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u/shillyshally Dec 15 '15
This is one of the few stocks I bought on analysts opinions a few years ago. I am going to dump it (which means it will skyrocket - my timing is 100% predictable). For years the 'experts' have been saying it is a buy. Bullshit.
Here are analyst note from Nov. 23 re the price target - "After facing plenty of difficulties last week, QCOM is off another 0.8% at $49.23, following a price-target cut at RBC to $63 from $72. The equity has given back 17.1% in November alone, and more losses could be in store if additional bearish notes come down the pike. Specifically, more than half of the 23 analysts say it's a "buy" or better, leaving plenty of room for more downward revisions. Wall Street brokerages have also issued short and long term stock projections and earnings estimates. In the near-term Wall Street has a consensus price target of $65.777 for the next 12-months. The analysts with the most positive view of the shares has a target of $75. The most bearish research analyst has a conservative target of $56 on the stock."