Best Stock for 2013: Qualcomm
CNNMoney’s Paul R. La Monica made it into the top five in 2012, betting on FedEx (NYSE:FDX) and a steadily improving economy. This year, though, he’s going a very different direction: tech.
Specifically, he is expecting mobile to be the dominant theme of the year, which is why Qualcomm (NASDAQ:QCOM) jumped out to him. The company, which was huge in the late 90′s, is a leading maker of chipsets for tech gadgets.
That’s not all, though. QCOM also passed a rigorous stock screen he ran. “Qualcomm was one of only seven S&P 500 stocks that came up when I looked for companies that pay dividends, have relatively low debt, trade at a reasonable P/E ratio and have estimates for double-digit growth this year and next for both earnings and revenue,” he writes.
“Qualcomm truly is the mighty Q.”
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