Qualcomm (QCOM) Holds 'Overweight' Rating-Here's What's Keeping Investors Confident

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the Trending AI Stocks on Wall Street.  On July 31, Piper Sandler analyst Harsh Kumar lowered the firm’s price target on the stock to $175 from $190 and kept an “Overweight” rating on the shares.

The firm noted how Qualcomm has delivered slightly above expectations with guidance largely in-line with estimates. It has been implementing its diversification well, and is poised for growth in key areas such as auto and IoT.

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

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.