Mizuho Lowers Qualcomm (QCOM) PT to $185, Cites QCT Margin Concerns Despite Strong Q3 Revenue Growth.

Qualcomm Incorporated (NASDAQ:QCOM) is one of the cheap technology stocks to buy now. On July 31, Mizuho lowered the firm’s price target on Qualcomm to $185 from $190 while keeping an Outperform rating on the shares.

In FQ3 2025, the company reported total revenues of $10.4 billion, which was a 10% year-over-year increase. The combined revenues from the QCT (Qualcomm CDMA Technologies) Automotive and IoT (Internet of Things) segments grew by 23% year-over-year to reach $2.7 billion.

The Automotive segment, in particular, recorded its highest quarterly revenues ever at $984 million, a 21% increase year-over-year. The IoT segment also saw strong growth, with revenues climbing 24% to $1.68 billion. While Handset revenues still constitute the largest portion of the QCT business, they also grew by 7% year-over-year to $6.3 billion.

Qualcomm Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry worldwide.

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