Qualcomm today
As of 04:00 PM ET
- 52 week range
- $120.80
▼
$182.10
- Dividend yield
- 2.11%
- P/E ratio
- 16.28
- Price target
- $182.82
shares Qualcomm company Nasdaq: Qcom It closed Monday’s session just above $167, extending a steady recovery that put it back near the upper end of its recent range. The stock is still up nearly 40% since April, even after a brief 9% decline earlier this month, and remains one of the more resilient names in the semiconductor space. Much of this resilience has come amid a volatile sector backdrop, with capital flowing back and forth between AI winners such as Nvidia Nasdaq: NVDA The backwards are trying to prove their importance.
This flexibility was not easy. While many of its larger chipmaking peers have soared to new highs this year, Qualcomm continues to trade around the same levels as it did in 2021. It’s a reminder that despite notable progress in its diversification and AI-driven products, the market has yet to reward the company’s full execution.
With earnings due in the first week of November, investors face a familiar dilemma: Does Qualcomm finally have the momentum to take off, or is this rally continuing on borrowed time? Here’s how to think about the setup and two ways to think about trading it.
Setup: Solid, but not proven
Technically, Qualcomm is still holding on to the uptrend since the spring. Bulls have been constantly stepping in to buy dips, and a sustained bounce from the market-wide decline earlier this month has consolidated support around $155. The RSI has not reset from overbought territory in September, but is also trending up from near oversold levels earlier this month.
It currently has a healthy bullish reading of 55, indicating that the bulls are in control and the stock has plenty of room to rise.
Qualcomm stock forecast today
$182.82
8.29% upModerate purchase
Based on 24 analyst ratings
| Current price | $168.83 |
|---|---|
| High expectations | $225.00 |
| Average expectations | $182.82 |
| Low expectations | $140.00 |
QUALCOMM stock forecast details
It has been stuck below the critical resistance area near $180 for over a year. A decisive break above this level would mark Qualcomm’s first major breakout in a long time, but the company struggles to maintain momentum every time it approaches it.
Basically, there’s a lot to like. Beyond smartphones, Qualcomm’s leadership team has made real progress diversifying into areas such as connected vehicles, industrial Internet of Things, and low-power edge computing.
These segments are growing faster than its legacy mobile business and are key to reducing countercyclicality in future earnings. It’s a diversification story that could ultimately reshape how investors value a stock.
Qualcomm’s valuation also remains compelling, with a price-to-earnings (P/E) ratio of around 16, a fraction of what peers like NVIDIA are asking for. The company also boasts a track record of beating Wall Street expectations, beating earnings and revenue estimates in every quarter for at least the past two years.
However, sentiment remains fragile. Investors have not forgotten the stock’s long periods of underperformance, even with a strong turnaround in recent months.
Option 1: Buy now and bet on another win
The bullish approach ahead of next month’s earnings is straightforward – count on Qualcomm’s proven ability to beat expectations and start building a position now. The company spent the past year expanding into the automotive and Internet of Things markets, with higher margins and less intense competition. Its recent acquisition of Arduino strengthens its position in the field of robotics and embedded devices, which will add additional growth drivers.
If Qualcomm once again posts better-than-expected results and heads confidently toward future growth, a rally to $180 could come quickly. The broader market environment remains full of risk, as technology stocks head into the fourth quarter, and these tailwinds add to the bullish argument.
Option 2: Wait for confirmation
The more cautious approach acknowledges that Qualcomm’s 40% rise since April may already be causing too much optimism. Even with its attractive valuation, this stock has struggled to sustain breakouts and win over long-term investors.
Waiting for confirmation, in the form of strong earnings and a clear move above $180, allows traders to avoid the volatility that often follows results. If Qualcomm disappoints, or even meets expectations without providing sufficient upside guidance, shares could easily fall toward the $160 level.
Analysts have repeatedly praised Qualcomm’s execution, but there is a growing sense that the company must prove its ability to translate innovation into sustainable revenue growth. For those who struggle with not following through, patience may be the smarter option.
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