Qualcomm had its Relative Strength (RS) Rating upgraded from 67 to 73 Friday -- a welcome improvement, but still shy of the 80 or higher score you look for.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves. See if Qualcomm can continue to show renewed price strength and clear that threshold.
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While it's not currently an ideal time to jump in, see if the stock is able to establish and enter a buy zone in heavy trade. Keep in mind while stock is in the No. 2 industry group, it is not in the top 10.
Earnings Review
Qualcomm reported negative growth for both sales and earnings last quarter. The company is expected to release its next quarterly numbers on or around Apr. 26.
Qualcomm earns the No. 12 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom and Lattice Semiconductor are also among the group's highest-rated stocks.
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