How QCOM and TXN are trading in relation to their 52-week highs
Strong earnings and guidance pulled up the stocks of Qualcomm (QCOM) and Texas Instruments (TXN), but overall, the stocks have fallen. These stocks were trading near their 52-week highs in January 2018, and then they took a downward path after the first stock market sell-off in February.
Intel (INTC) stock revived from the sell-off and traded near its 52-week high in April 2018. Although investors had muted reactions to Intel’s 1Q18 earnings, analysts are optimistic about the company and have raised their price targets on the stock.
Analysts’ price target for Intel
Analysts are slightly bullish on Intel. They raised their median price target for Intel from $55 prior to Intel’s 1Q18 earnings release to $62 following its earnings release, representing an upside potential of 18% from its current trading price of $52.73. Even bearish analysts raised their price target for Intel from $38 to $42. Analysts’ optimism has largely been driven by strength in the company’s data center business.
Analysts’ price target for Qualcomm
Analysts are slightly bearish on Qualcomm. They have a median price target of $63 on its stock, representing an upside potential of 23% from its current trading price of $51.1. However, the stock is trading below its bearish price target of $53 and near its 52-week low of $48.56, as several legal and macroeconomic headwinds have impacted its earnings.
Qualcomm has already been hit by US-Chinese trade tensions, with the sales ban on ZTE affecting its fiscal 3Q18 (which will end on June 25, 2018) earnings per share by $0.03.
Analysts’ price target for Texas Instruments
Analysts are neutral on Texas Instruments. They have a median price target of $118.5 on the stock, representing an upside potential of 16% from its current trading price of $105.51. The stock is hovering between its 52-week low and high of $75.9 and $120.75, respectively, and has stable earnings and growth.