Current Return: +8%
Investor: Paul R. La Monica
Another pick moving in the right direction is Qualcomm (NASDAQ:QCOM) — a tech stock chosen by Paul R. La Monica.
The company — and world’s leading chip-set maker for mobile handsets — passed an ambitious stock screen La Monica ran. And so far, that screen seems to be right on the money. QCOM has climbed over 8% so far this year, barely lagging the S&P 500.
Plus, the big “Q” gave made good moves in early March: It boosted its dividend 40%, authorized more buybacks and gave a forecast for continued growth thanks to surging smartphone demand and the rise in tablet sales and other wireless technology.
More specifically, the company’s CEO expects double-digit revenue and earnings per share increases over the next five years.
Of course, for this contest, 2013 is the only year that matters. Still, Qualcomm has also already raised its full-year 2013 guidance and is only a couple bucks away from a 52-week high.
That’s a pretty solid performance just a quarter into the game.