Why Qualcomm (QCOM) is a Top Momentum Stock for the Long-Term

Zacks Premium and Style Scores - Zacks Premium provides daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks 1 Rank List, Equity Research reports, and Premium stock screens to help investors make informed decisions [1] - The Zacks Style Scores rate stocks based on value, growth, and momentum characteristics, assigning ratings from A to F, with A being the best [2] - The Style Scores are divided into four categories: Value Score, Growth Score, Momentum Score, and VGM Score [2][3][4] - The VGM Score combines all three Style Scores (Value, Growth, Momentum) to provide a comprehensive indicator for stock selection [4] - The Zacks Rank, which uses earnings estimate revisions, has a strong track record, with 1 (Strong Buy) stocks delivering an average annual return of +25.41% since 1988, outperforming the S&P 500 [5] - Investors should focus on stocks with a Zacks Rank 1 or 2 and Style Scores of A or B for the highest likelihood of success [6] Qualcomm (QCOM) Analysis - Qualcomm designs, manufactures, and markets digital wireless telecom products and services based on CDMA technology, with two reporting segments [7] - QCOM has a Zacks Rank of 3 (Hold) and a VGM Score of B, with a Momentum Style Score of B and a 3.8% share price increase over the past four weeks [7] - Nine analysts revised their earnings estimates higher for fiscal 2024, with the Zacks Consensus Estimate increasing by $0.40 to $9.57 per share [8] - QCOM has an average earnings surprise of 5.9%, making it a stock to watch for momentum investors [8]