Q2 Return: -9%
YTD Return: Flat
Investor: Paul R. La Monica
For Qualcomm (QCOM), the race is just starting. While the tech stock chosen by Paul R. La Monica was sitting pretty in fourth place at the end of the Q1, an 8% slide in the second quarter has put QCOM back to flat.
Although the chip-set maker posted record earnings back in April — and did so after boosting its dividend 40% and authorizing more buybacks in Q1 — it also posted a weaker-than-anticipated outlook for third-quarter earnings.
Investors immediately got skittish.
Still, that could be good news for anyone looking to get into a company perfectly poised to cash in on the growth of smartphones and tablets. QCOM is a trading at a reasonable forward P/E of 13 once again — one of the original reasons La Monica recommended it six months ago.