Qualcomm Is Cheap Enough to Hold Through 2030

"Fiscal 2027 marks the start of our non-handset revenue inflection, including the ramp of our Data Center business," Qualcomm (NASDAQ:QCOM) CEO Cristiano Amon said in the company’s fiscal 2026 Q4 report on Nov. 4.

You wouldn't know that from how the stock is trading. Shares of the chipmaker behind the Snapdragon processors that can be found in close to a quarter of all smartphones closed at $173.53 on Nov. 10, 33% below their May 29 high. The stock's pullback can be blamed in part on the fact that handset chip sales have been falling in 2026, and were down by 26% year over year last quarter.

But the bigger story is what Qualcomm is building next.

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