"Qualcomm could catch a break, especially as the AI sell-off looks to get worse before it gets any better. Several analysts share the viewpoint that the name is misunderstood and cheap at these depths."
"Qualcomm's own management team may even see value at around $131 and change per share, with the recent green light to go ahead with a $20 billion share repurchase program."
"Despite troubling analyst downgrades hitting the stock over the in-house modem transition of Apple, Qualcomm is starting to get oversold enough to at least start thinking about going bottom-fishing."
"The stock surely felt the 'underperform' rating alongside the new $20 billion share repurchase program, acting as salt in the wounds of an already hard-hit firm."
Qualcomm's stock has underperformed compared to other semiconductor companies, reaching multi-year lows. Analysts believe the stock is misunderstood and undervalued, especially with a $20 billion share repurchase program and a dividend hike signaling confidence. Despite trading at a high P/E ratio, the potential for growth in AI and robotics makes Qualcomm an attractive option for investors willing to wait. Recent downgrades, particularly from Bank of America, have added to the stock's struggles, but there is optimism for a turnaround.
Read at 24/7 Wall St.
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