Where Will Qualcomm Stock Be in 3 Years?
The past three years have been disappointing for (NASDAQ: QCOM) investors: Shares of the semiconductor specialist have gained just 8% as compared to the 36% gains clocked by the PHLX Semiconductor Sector index over the same period. That's not surprising given the weakness in the smartphone market during this interval.
Sales of smartphones fell from 1.54 billion units in 2019 to 1.36 billion units the following year. The market didn't witness much growth through 2023 -- shipments came in at 1.34 billion units last year. Given that Qualcomm got 62% of its revenue in the previous quarter from selling smartphone chips, it is easy to see why the stock has underperformed the broader market in recent years.
However, will the next three years bring about a turnaround in Qualcomm's fortunes, especially considering that the company has a new catalyst in the form of artificial intelligence (AI)? Let's find out.
Source Fool.com
Qualcomm Inc. Stock
With 48 Buy predictions and 2 Sell predictions Qualcomm Inc. is one of the favorites of our community.
As a result the target price of 178 € shows a slightly positive potential of 16.8% compared to the current price of 152.4 € for Qualcomm Inc..
