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Buy These 3 Stocks on Any Earnings Dip

History says a knee-jerk, earnings-driven selloff from these names is a prime buying opportunity

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First and foremost, kudos to Qualcomm (QCOM) for topping estimates in 14 of its past 15 quarters, and for growing its top line so well after digging itself out of 2010’s stumble. And for what it’s worth, most of the post-earnings responses have been bullish rather than bearish. Even the three initially bearish responses (July 2011, April 2012 and April 2013), however, were short-lived pullbacks. Qualcomm shares clearly are in a long-term uptrend, and even knocking on the door of new all-time highs.

The secret of Qualcomm’s success? It makes much of the underlying technology (aka “the guts”) used in several brands of smartphones, so it doesn’t really care who’s winning the smartphone war. The thing is, the company is so well entrenched into current smartphone designs, manufacturers are going to continue tapping the company indefinitely.

Look for Qualcomm to post its next quarterly update sometime in early November.

As of this writing, James Brumley did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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