Qualcomm (NASDAQ) and Paycom Software(NYSE:) share very little. The first company is a payroll and human resource software company while the other company is a Semiconductor company. Paycom Software has its sights in many segments including 5G and Smart Homes. Modem RF Systems and Processors. Both have strong history of earnings growth. QCOM grew its quarterly EPS 76% year-overyear while PAYC reported 31% quarterly growth in EPS. The names of both companies have performed much better than those in the tech sector, with QCOM growing its quarterly EPS by 76% year-over-year and PAYC reporting 31% quarterly EPS growth. Both PAYC, QCOM, and QCOM are both higher than rising 200 day moving averages. Let’s take a closer look at each company below:.We’ve seen a violent correction in many tech names over the past couple of weeks, and the Nasdaq-100 (QQQ) is now down more than 5% from its highs. However, the size of the correction doesn’t properly highlight the damage underneath the hood of the market. More than 70% of stocks are now below their 50-day averages and almost 75% of the sectors below their 200 day averages. Despite the brief bout of significant selling pressure we’ve seen, there’s still minimal fear out there, with no significant increase in put-buying just yet.

The market may fall further before it reaches a sustainable bottom. It is a good time to make a shopping plan, as high-quality names can often be purchased at very affordable prices. In this update, we’ll look at two names that look set for a strong year ahead and assess their ideal buy-points if this correction continues.

(Source: TC2000.com)

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