Qualcomm had its Relative Strength (RS) Rating upgraded from 80 to 89 Wednesday.
When you're researching the best stocks to buy and watch, keep a close on eye on 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 behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners typically have an RS Rating north of 80 as they begin their biggest runs.
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While it's not currently an ideal time to invest, see if the stock goes on to form a base and break out. Also note that earnings are due in about a week, which also adds risk. Adding to your watchlist is always a safe way to keep and eye on a stock.
Qualcomm saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 49% to 69%. Revenue rose from 30% to 41%. The next quarterly results are expected on or around Jul. 28.
Qualcomm holds the No. 1 rank among its peers in the Electronics-Semiconductor Fabless industry group.
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