13 Best Cheap Stocks to Invest in for Beginners

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11. QUALCOMM Incorporated (NASDAQ:QCOM)

Forward P/E: 12.92

Number of Hedge Fund Holders: 79

QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry, including 3G, 4G, and 5G wireless connectivity and high-performance and low-power computing, including on-device AI.

The company takes the 11th spot on our list of the best cheap stocks to buy now for beginners. On May 1, Bernstein analyst Stacy Rasgon maintained a Buy rating on QUALCOMM Incorporated (NASDAQ:QCOM) and set a price target of $185.00 amid robust performance and optimistic future prospects. The rating came after the company’s strong fiscal Q2 2025 results, with EPS and revenue exceeding market expectations. The results were supported by robust performance in the company’s QCT segment across various sectors, including automotive, handsets, and IoT.

Although the company experienced some minor underperformance in QTL revenues, the analyst believes that its overall financial health remains strong. QUALCOMM Incorporated (NASDAQ:QCOM) has also given optimistic guidance for fiscal Q3 2025, anticipating significant year-over-year growth in automotive revenues and continued strength in IoT and handsets.

The analyst also highlighted QUALCOMM Incorporated’s (NASDAQ:QCOM) resilience against potential headwinds and the potential of its product portfolio, supporting the optimistic rating.

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