Qualcomm: A Compelling Turnaround Opportunity

QUALCOMM remains a Buy as diversification and AI infrastructure initiatives are set to drive future growth. QCOM's non-handset revenue is guided to accelerate from 24% to over 60% in FY2027, offsetting Apple-related declines.

AI data center catalysts, including HBC Gen 1 and Dragonfly C1000 CPU, are not fully priced into QCOM's current 15–16x forward earnings multiple. Short-term earnings headwinds persist, but stabilization and new product launches could prompt a market re-rating by mid-2027.

The last time I covered QUALCOMM Incorporated (QCOM) was in July 2025. Back then, the stock was trading at almost the same price as it is today, while This article was written by Danil Sereda 15.36K Followers Follow Daniel Sereda is chief investment analyst at a family office whose investments span continents and diverse asset classes. This requires him to navigate through a plethora of information on a daily basis. His expertise is in filtering this wealth of data to extract the most critical ideas. He runs the investing group Beyond the Wall Investing in which he provides access to the same information that institutional market participants prioritize in their analysis. Learn more.

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