UBS Lifts PT on QUALCOMM Incorporated (QCOM) to $165 From $145, Keeps a Neutral Rating

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the most undervalued blue chip stocks to buy according to hedge funds. On July 21, UBS raised the firm’s price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $165 from $145, keeping a Neutral rating on the shares.

The firm told investors in a research note that it expects a modest upside bias to the company’s Q3 results in a backdrop showing solid signs of tariff-related pull-ins for Android and Apple units in the quarter.

However, it also added that it does not expect this momentum to be sustained into the second half of the year as pull-ins usually wane, primarily because the end consumption for smartphones and PC has failed to get any better.

QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry, including 3G, 4G, and 5G wireless connectivity and high-performance and low-power computing, including on-device AI.

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.