Qualcomm (QCOM) Beats Estimates as Piper Sandler Reiterates Overweight Rating

QUALCOMM Incorporated (NASDAQ:QCOM) is 1 of the 10 AI Stocks Analysts Are Watching. On February 5, Piper Sandler expert Harsh Kumar reiterated an Overweight standing connected the banal with a $200.00 terms target. The standing affirmation follows QCOM’s December 2026 4th results.

The institution reported stronger-than-expected net for the archetypal 4th of fiscal 2026, with EPS of $3.50, beating the forecast of $3.40. It besides exceeded gross expectations, posting $12.25 cardinal compared to the expected $12.11 billion.

While QCOM did bushed expectations, its March guidance was considerably tempered by representation constraints astatine definite OEMs, peculiarly successful China, which led to reduced proviso forecasts.

For the March 2026 quarter, QCOM’s handset concern is forecast to diminution sharply by 22% sequentially. Meanwhile, different cardinal segments, specified arsenic Automotive and IoT, proceed to found beardown growth.

The probe steadfast does not expect a important betterment successful the handset concern done September 2027 owed to choky representation conditions. It besides mentioned that 2027 volition beryllium impacted by the Apple agreement.

Qualcomm is expected to supply clarity regarding its information halfway strategy and ramp during its upcoming expert day. This, the steadfast believes, could perchance boost estimates.

QUALCOMM Incorporated (NASDAQ:QCOM) develops wireless technologies, supplies chips for mobile, automotive, and IoT, licenses patents, and invests successful emerging tech.

While we admit the imaginable of QCOM arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you’re looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.