Citi Raised the Firm's PT On QUALCOMM (QCOM), Maintains a Hold Rating

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 10 Most Undervalued Technology Stocks to Buy Right Now. On July 7, Citi raised firm’s price target on QUALCOMM Incorporated (NASDAQ:QCOM) from $145 to $170, while maintaining a Hold rating on the stock.

The firm noted increasing the price target due to the resilience of the sector against tariffs. The firm had previously estimated that tariffs would lead to a slowdown in the sector; however, the market has shown resilience. Moreover, Citi also believes that the recent upturn is driven by a growing demand and inventory replenishment. It sees Microchip and Texas Instruments products having the most upside within the sector.

Moreover, QUALCOMM Incorporated (NASDAQ:QCOM) reported strong results for its fiscal second quarter of 2025. The company posted a revenue of $10.84 billion, up 15.45% year-over-year and ahead of expectations by $178.66 million. The EPS of $2.85 also exceeded expectations by $0.03.

QUALCOMM Incorporated (NASDAQ:QCOM) is a technology company that develops key wireless technologies, including 3G, 4G, and 5G connectivity. It also designs integrated circuits and software for devices like smartphones, IoT products, and automotive systems.

While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.