Look for a Rebound in Qualcomm

QCOM appears to be on its way back up after profit-taking

   

Look for a Rebound in Qualcomm

Qualcomm (NASDAQ:QCOM) — This company is a leader in developing products and services based on its advanced wireless broadband technology. And its performance had been outstanding until it was hit with a shortage of chips fromJapan.

That and profit-taking drove the stock from its March high of over $68 to its bullish support line and 200-day moving average at $57.22.

Earnings are expected to increase to $3.25 in 2012 versus $2.70 in 2011, and analysts have a target of between $75 and $81 within 12 months.

Long-term buyers should add this premier tech stock to their portfolio now, and traders should expect a rebound to $63-$65.

05 24 12 qcom 300x189 Look for a Rebound in Qualcomm
Click to Enlarge

chart key Look for a Rebound in Qualcomm


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/trade-of-the-day-qualcomm-nasdaq-qcom/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.