12 Most Undervalued S&P 500 Stocks to Buy Right Now

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8. QUALCOMM Incorporated (NASDAQ:QCOM)

Forward P/E Ratio: 13.35

Number of Hedge Fund Holders: 76

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the Most Undervalued S&P 500 Stocks to Buy Right Now. On August 26, QUALCOMM Incorporated (NASDAQ:QCOM) announced the Qualcomm Dragonwing Q-6690. It is the world’s first enterprise mobile processor with fully integrated UHF RFID capabilities.

Management highlighted that having fully integrated UHF RFID capabilities means that RFID technology is built into the chip itself, removing the need for separate RFID reader modules. In addition, the processor includes advanced wireless technologies like 5G, Wi-Fi 7, Bluetooth 6.0, and ultra-wideband. It also supports smart, proximity-aware experiences and global connectivity.

The processor is designed for varied devices, from rugged handhelds to retail point-of-sale systems and smart kiosks. Management believes that Dragonwing will be a key enabler in many use cases, including access control, asset tracking, inventory management, and product authentication.

QUALCOMM Incorporated (NASDAQ:QCOM) is a global leader in wireless technology. It designs and develops semiconductor chips and software for mobile devices, automotive, IoT, and networking.

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