ℹ️ How are these calculated?
🎯 Investment Thesis
Zacks "Bear of the Day" — memory chip shortage hitting Qualcomm hard. ALL 5 recent analysts lowered PTs: JP Morgan $185 (from $195), TD Cowen $150 (from $190), RBC $150 (from $180), Evercore $134 (from $157), Argus $180 (from $205). At 13x forward PE, the China risk is priced in, but headwinds are mounting. Auto/IoT diversification is the long-term hope but not moving the needle yet.
⚠️ Key Risk
Evercore In-Line $134 implies 5% downside — the most bearish voice thinks current price is fair at best. Full China decoupling would remove 30%+ of revenue. Memory chip shortage adding new headwind beyond trade war. Huawei and MediaTek gaining share. Former Qualcomm exec Eric Demers just joined Intel as GPU architect — talent drain.
By The Numbers
Event Impact
On-device AI chips for mobile/edge. Not data center infra.
No defense or energy exposure.
No quantum relevance.
China handset chips major revenue driver. Huawei developing alternatives. Memory chip shortage compounding problems.
Significant international revenue benefits from weaker dollar. At 12x PE, less rate-sensitive than high-multiple peers.
No energy grid relevance.
No significant fiscal exposure.
Price Targets
Upcoming Catalysts
Competitive Landscape
Gaining share in mid-range and China handsets
Company Background
Founded 1985 to commercialize CDMA technology. Qualcomm's Snapdragon processors power most Android smartphones. Licensing arm (QTL) collects royalties on virtually every cellular device sold.