Where Will Qualcomm Go Next?

With shares of Qualcomm (NASDAQ:QCOM) trading around $66, is QCOM an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

C = Catalyst for a Stock’s Movement

Qualcomm designs, manufactures, and markets digital wireless telecommunications products and services. With the world in constant development and mobile phones booming, Qualcomm is poised to see profits into the future. The telecommunications industry has seen consistent demand from developed and developing countries that shows no signs of slowing. Look for Qualcomm to continue its dominance in this area of technology.

T = Technicals on the Stock Chart are Strong

Qualcomm is one of the few technology names that is trading near its highs established during the technology boom. It was also one of the most resilient stocks during the 2008 financial crisis. The stock has been a part of a beautiful uptrend that extends back to 2002. Currently, Qualcomm stock is trying to break above multi-year highs. Positive price momentum seems to be intact for this stock.