TD Cowen analyst Joshua Buchalter has maintained their bullish stance on QCOM stock, giving a Buy rating on July 28.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Joshua Buchalter has given his Buy rating due to a combination of factors including Qualcomm’s strong performance in the Auto and IoT segments, which continue to show steady growth despite challenges in the handset market. The company’s recent results exceeded expectations, driven by new Snapdragon launches and a solid presence in the Android market, which is expected to grow significantly in the coming years.
Furthermore, Qualcomm’s strategic initiatives in the data center space, particularly its engagements with leading hyperscalers and its development of AI and connectivity solutions, present promising long-term growth opportunities. Although there are concerns about the impact of Apple share loss and potential handset supply chain issues, Qualcomm’s durable partnerships with companies like Samsung and Xiaomi provide a solid foundation for future growth.
In another report released on July 28, Bernstein also maintained a Buy rating on the stock with a $185.00 price target.