Qualcomm Inc. (QCOM) continues to face market volatility and a decline in growth, though the company has outperformed the S&P 500. As of September 2, 2022, Qualcomm was down by approximately 10% compared to the S&P 500’s loss of about 12% over the past year. In the second quarter of 2022, the company made the WhaleWisdom Heatmap with a rank of two.

Qualcomm is a multinational corporation that creates semiconductors and software while offering wireless technology services. The company operates through three core segments: Qualcomm CDMA Technologies, Qualcomm Technology Licensing, and Qualcomm Strategic Initiatives. Qualcomm is a leading chipmaker and utilizes mobile chip technology to serve personal computers, Internet of Things, and automotive markets. Qualcomm has made a considerable mark on wireless technology with its patents for mobile communication, such as 5G and CDMA, which align well with its goals to innovate and intelligently connect the world.

(WhaleWisdom)

Hedge Funds Adjust Portfolios

Hedge funds were selling in the second quarter of 2022, and the aggregate 13F shares held decreased approximately 0.9% to about 147.5 million from 148.8 million. Of the hedge funds, 26 created new positions, 204 added, 27 exited, and 130 reduced their stakes. Institutions also sold and decreased their aggregate holdings by about 1.8% to approximately 796.3 million from 810.5 million.

(WhaleWisdom)

Favorable Estimates

Analysts expect to see earnings rise to $12.52 per share by September 2022 and $12.98 by September 2023. Revenue estimates also offer encouragement, with predictions of approximately $46.8 billion in September 2023, up from an estimated $44.2 billion for 2022. The 13F metrics over the past twenty years show that funds remained steady, even as Qualcomm’s stock price fluctuated.

(WhaleWisdom)

Analysts Share Optimistic Price Targets

Analysts’ price targets may vary, but most view Qualcomm as an investment opportunity. Analyst Vijay Rakesh of Mizuho Securities Co. raised the firm’s price target to $175 from $168 and kept a Buy rating on shares. Edward Jones & Co. analyst Logan Purk upgraded Qualcomm’s rating to a Buy from a Hold, noting the opportunity for growth. Gary Mobley of Wells Fargo Securities raised the firm’s price target to $150 from $135, maintaining an Equal Weight rating on Qualcomm’s shares and citing softness in the smartphone market. Analyst T. Michael Walkley of Canaccord Genuity kept a Buy rating on shares and lowered the firm’s price target to $225 from $250. Walkley spoke of Qualcomm’s strong 5G leadership position and the opportunity for long-term solid market growth.

Positive Outlook

Qualcomm’s stock may have lost some ground, but the technology company has shown continued growth. Hedge funds were selling in the second quarter, though earnings and revenue estimates through 2023 look favorable. Bullish investors will take note of Qualcomm’s ability to outperform the market and view the stock as a long-term investment opportunity.

UnitedHealth Group, Inc. (UNH) has made steady gains over the past year, despite a challenging market. Though hedge funds were selling in the second quarter, the company continued to climb the WhaleWisdom Heatmap to a rank of three in the second quarter. UnitedHealth Group has significantly outperformed the S&P 500, rising by approximately 30% compared to the S&P’s loss of about 5% over the past year.

UnitedHealth is an American healthcare and insurance company with two segments: UnitedHealthcare and OptumRx. Its UnitedHealthcare segment offers employers consumer-oriented health benefit plans and services, while the OptumRx business line provides pharmacy services and programs. UnitedHealth is one of the nation’s largest health insurers, offering a variety of health benefit plans and programs with the mission of helping people live healthier lives and improving the health care system’s performance.

(WhaleWisdom)

Hedge Funds Sell Despite Growth

Hedge Funds adjusted their portfolios, and the aggregate 13F shares held decreased to approximately 143.0 million from 150.7 million, a reduction of about 5.1%. Overall, for hedge funds, 29 created new positions, 173 added, 46 exited, and 206 reduced their stakes. Institutions decreased their holdings by about 1.2% to 801.4 million from 810.9 million. The track record of 13F metrics between 2000 and 2022 suggests that UnitedHealth remains on an upward trend.

(WhaleWisdom)

Encouraging Multi-year Estimates

Analysts expect to see positive momentum for revenue, with increases in growth through 2023 that could bring revenue to approximately $349.3 billion by December 2023, up from an estimated $322.2 billion in 2022. Year-over-year estimated increases could also bring earnings to $24.89 per share by December 2023, up from a predicted $21.85 for December 2022. Year-over-year growth is estimated to bring revenue to approximately $38.2 billion by December 2023, up from an estimated $25.8 billion in December 2021.

(WhaleWisdom)

Analysts Raise Price Targets

Analysts are bullish on the stock following strong second-quarter results. Analyst Ann Hynes of Mizuho Securities Co., Ltd. raised the firm’s price target on UnitedHealth to $600 from $550 and kept a Buy rating on shares. Argus Research Co. analyst David Toung also maintained a Buy rating on the stock and raised the firm’s price target to $650 from $580. Kevin Caliendo of UBS Securities kept a Neutral rating on UnitedHealth’s shares and increased the firm’s price target to $570 from $545. Despite United Health management’s outlook, Caliendo’s milder price adjustment speaks to cautiousness given the uncertainty of the Coronavirus pandemic and its future impact on hospitalizations and medical costs. BMO Capital Markets analyst Matt Borsch raised the firm’s price target on UnitedHealth to $610 from $600 following positive Q2 results. Borsch maintained a Market Perform rating on the stock and appeared encouraged by the favorable medical cost trend and not concerned at this time with the potential for increased competition or regulatory scrutiny of managed care organizations.

Favorable Outlook

UnitedHealth has experienced healthy growth over the past year, and analysts’ earnings and revenue growth predictions are optimistic. The company’s health programs and pharmacy services will likely see continued demand, encouraging investors to view UnitedHealth as an investment opportunity.

Nvidia Corp. (NVDA) continues to navigate market volatility, keeping pace with the S&P 500’s performance with an overall decline of about 10% as of August 18, 2022, over the past year. Hedge funds were actively selling the technology stock in the second quarter, influenced by financial updates. However, Nvidia still rose on the WhaleWisdom Heatmap to a rank of one from nineteen.

Nvidia provides graphics, computing, and networking solutions globally across gaming, data center, automotive, and professional visualization markets. The company operates through two segments: Graphics Processing Unit (GPU) and Tegra. The GPU business is tied closely to gaming, autonomous vehicles, and data visualization tools, with GPUs for data centers in demand by cloud platforms. The Tegra segment includes Tegra processor technologies developed for smartphones, gaming devices, and other computing devices such as tablets and Chromebooks. Nvidia’s GPU segment generates the bulk of its revenue, and the company uses a platform business strategy to combine its hardware with software to enhance GPU capabilities.

(WhaleWisdom)

Hedge Funds and Institutions Sell

Hedge Funds adjusted their portfolios in the second quarter, and the aggregate 13F shares held decreased to approximately 203.9 million from 221.0 million, a slide of about 7.7%. Overall, 26 hedge funds created new positions, 195 added, 69 exited, and 180 reduced their stakes. Institutions also sold and lowered their holdings by about 2.3% to $1.5 billion.

(WhaleWisdom)

Encouraging Multi-year Estimates

Analysts expect to see earnings rise over the next two years, with increased growth that could bring earnings to $5.56 per share by January 2024, up from $3.74 in 2023. Revenue is predicted to increase to approximately $29.3 billion by January 2023 and $35.9 billion by January 2024. Long-term 13F metrics between 2018 and 2022 suggest that Nvidia’s investment potential remains strong.

(WhaleWisdom)

Analysts Pull Price Targets

Earlier in August, Nvidia shared second-quarter revenue figures that failed to meet original projections due to weaker revenue from their gaming business. Despite the long-term revenue potential, the disappointing announcement caused analysts to pull price targets on the stock. William Stein of Truist Securities lowered the firm’s price target on Nvidia to $216 from $283 while maintaining a Buy rating on shares. Susquehanna Financial Group analyst Christopher Rolland held a Positive rating on the stock and lowered the firm’s price target to $210 from $220. Rolland shared that the company’s preannouncement included a plan to slow operating expense growth to balance their investments in the long-term, and the disappointing projected results may support the weakening of personal computer and device end markets. Analyst Kinngai Chan of Summit Insights kept a Hold rating on shares after Nvidia’s negative second quarter announcement. Chan cited concerns about supply chain delays and a recently declining cryptocurrency mining market. Due to rising energy prices and falling crypto prices, GPU mining has been less profitable. Vijay Rakesh of Mizuho Securities Co. maintained a Buy rating on shares and lowered the firm’s price target on Nvidia to $250 from $290 following Nvidia’s revenue preannouncement.

Fair Outlook

Nvidia has made great strides with GPU technology and artificial intelligence; however, the company’s growth remains stalled as it continues to weather challenging macroeconomic conditions. Investors may be encouraged by analysts’ positive earnings and revenue projections through 2024. The technology stock is one to watch, holding long-term potential for patient investors.

Apple Inc. (AAPL) weathered market volatility over the past year and has outperformed the S&P 500, also rising on the WhaleWisdom Heatmap to eight from thirteen. While hedge funds were selling in the first quarter, Apple rose by approximately 18% as of August 12, 2022, compared to the S&P’s loss of about 5% over the past year.

Apple is a multinational technology company driven by innovation. Apple designs, manufactures and markets smartphones, personal computers, networking applications, and portable music players. The technology company offers online services such as Mac App, a digital distribution platform for its applications, and iTunes, a media library and store. Amidst market volatility, Apple has begun to thrive again since July 2022.

(WhaleWisdom)

Hedge Funds and Institutions Sell

Hedge Funds adjusted their portfolios, and the aggregate 13F shares held decreased to approximately 1.1 billion shares from 1.2 billion, a slide of about 0.7%. Overall, 22 hedge funds created new positions, 230 added to an existing position, 34 closed exited, and 332 reduced their stakes. Institutions were also selling and lowered their holdings by about 1.9% to 9.3 billion. The 13F metrics between 2000 and 2022 show that funds held remain on a steady rise despite a challenging market.

(WhaleWisdom)

Encouraging Multi-year Figures

Analysts expect to see earnings rise through 2023, with increases in growth estimated to bring earnings per share to $6.10 by September 2022 and $6.44 by September 2023. Year-over-year estimated increases could also bring revenue to close to $411.7 billion by 2023, up from a predicted $392.5 billion in 2022.

(WhaleWisdom)

Analysts See Apple’s Potential

Apple stands to see a boost in revenue from increased pricing and the upcoming releases of new products. Analyst Ming-Chi Kuo of TF International Securities shared news of price hikes for the new iPhone 14 series and that the release of a new mixed reality headset may be as early as January 2023. Bernstein analyst Toni Sacconaghi was also interested in September’s upcoming launch of the iPhone 14. Sacconaghi noted Apple management’s confidence in their business and views the level of success of the new iPhone as a vital sign as to whether consumer demand remains strong for upgrades despite challenging economic times.

Fair Outlook

Apple’s sales remain strong despite a volatile economy, and analysts have shared encouraging earnings and revenue growth predictions through 2023. Their iPhones and other products are likely to see increased demand with upcoming launches. The technology stock holds long-term potential for patient investors.

Etsy, Inc. (ETSY) underperformed the S&P 500, seeing a loss of roughly 50% compared to the S&P 500’s loss of around 5% over the past year. Despite market volatility, hedge funds were actively buying Etsy’s shares, and the stock was added to the WhaleWisdom Whale Index 100 on May 17, 2022.

Etsy is an e-commerce company that connects buyers and sellers worldwide through its two-sided online marketplaces. While the company’s initial focus was providing a place for buying and selling handmade and vintage items, its business line has grown to operate in four segments: Etsy, Reverb, Depop, and Elo7. The Etsy marketplace continues to connect artisans and entrepreneurs with consumers, and Etsy acquired Elo7 in 2021 to help expand its reach; Elo7 is a popular Brazilian marketplace specializing in handmade items and custom made-to-order merchandise. The company also offers a Reverb marketplace exclusively focused on musical instruments and Depop, a fashion resale marketplace. Etsy’s marketplaces experienced a surge in popularity at the onset of the Coronavirus pandemic with handmade and customized products such as face masks, mask storage solutions, and other pandemic-associated accessories. Though the pandemic helped accelerate the trend of online shopping, as the world journeys beyond the pandemic and inflation rise, e-commerce businesses like Etsy have experienced a slowdown in sales.

(WhaleWisdom)

Hedge Funds and Institutions Are Active

Etsy received positive attention from hedge funds and institutions in the first quarter. Hedge funds increased their aggregate 13F shares to approximately 30.3 million from about 22.8 million, a change of roughly 32.6%. Of hedge funds, 33 created new positions, 72 added to an existing position, 43 closed out their holdings, and 49 exited. Institutions increased their aggregate holdings by roughly 4.4% to about 119.2 million from 114.2 million. The long-term 13F metrics between 2016 and 2022 suggest that Etsy’s upward trend has plateaued.

(WhaleWisdom)

Encouraging Multi-year Estimates

Analysts expect to see earnings rise, with increases in growth that could bring earnings to $4.24 per share by December 2023, up from an estimated $3.75 for 2022. Year-over-year estimated increases could also bring revenue to about $2.8 billion by 2023, up from a predicted $2.5 billion in 2022.

Favorable Price Targets

Analysts appeared encouraged by second quarter (Q2) results and raised price targets. Etsy’s gross merchandise sales reached the $3 billion mark expected by Wall Street, and the e-commerce company reported about 6 million new buyers. Analyst Seth Sigman of Guggenheim Securities was optimistic following Q2 results and Q3 guidance and raised the firm’s price target on Etsy to $105 from $101, keeping a Buy rating on shares. Rick Patel of Raymond James Equity Research and Jason Helfstein of Oppenheimer & Co. maintained Outperform ratings on Etsy’s shares. Patel raised the firm’s price target to $115 from $100 and shared that projected growth rates for Etsy support signs of stabilization. Helfstein raised the firm’s price target to $127 from $120, noting increased buyer frequency and Etsy’s improved efficiency over marketplace searches and marketing. BTIG, LLC analyst Marvin Fong kept a Buy rating on Etsy and raised the firm’s price target to $122 from 105.

(WhaleWisdom)

Optimistic Long-term Outlook

Etsy has favorable earnings and revenue estimates from analysts through 2023. While Etsy’s stock price fluctuated in 2022, hedge funds bought the stock amidst a volatile market. Analysts are optimistic about e-commerce revenue and raised price targets. Etsy may be a good buying opportunity for long-term investors.