Qualcomm Technical Analysis - Qualcomm Trading: 2022-01-07

Recent strong chip demand and supply shortages support semiconductor chip stocks. Qualcomm is an American multinational corporation engaged in the development, design, and provision of digital telecommunications products and services. Its market capitalization is $208.26 billion. The stock is trading at P/E ratio (Trailing Twelve Months) of 23.63 currently and at Forward P/E ratio of 17.77 - for comparison, its industry has an average Forward P/E of 27.21, which means Qualcomm is trading at a discount to the group. In fiscal 2020, its adjusted revenue (a non-GAAP reporting metric that allows companies to make adjustments to revenue by factoring in large one-time expenses or losses that would ordinarily not be considered part of the operating status quo) rose 12% to $21.7 billion -- with its chipmaking and licensing revenues growing 13% and 10%, respectively. In fiscal 2021, Qualcomm's adjusted revenue soared 55% to $33.5 billion as its chipmaking and licensing revenues rose 64% and 26%, respectively. Next earnings date is February 2, 2022. Yesterday General Motors said a trio of chips from Qualcomm will power the "Ultra Cruise" driver-assistance feature on a luxury Cadillac sedan next year. Couple of day before that Qualcomm had signed agreements with leading car manufacturers -Volvo, Honda Motor and Renault, to supply automotive chips for their upcoming models. High chip demand is bullish for Qualcomm stock price.