5 Cheap Beginner Stocks to Buy

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In this article, we will take a look at 5 cheap stocks to buy now for beginners. If you want to explore similar stocks, you can go to 15 Cheap Beginner Stocks to Buy.

5. QUALCOMM, Incorporated (NASDAQ:QCOM)

PE Ratio (TTM) as of March 28: 11.62

Number of Hedge Fund Holders: 82

QUALCOMM, Incorporated (NASDAQ:QCOM) was held by 82 hedge funds at the end of Q4 2022. These funds disclosed collective stakes worth $2.39 billion in the company. As of December 31, Matrix Capital Management is the top investor in the company and has a position worth $366.9 million.

This March, Susquehanna analyst Christopher Rolland upgraded QUALCOMM, Incorporated (NASDAQ:QCOM) to Positive from Neutral and reiterated his $140 price target. As of March 28, the stock is trading at a PE multiple of 11x and is placed fifth on our list of the best cheap beginner stocks to buy now.

Here is what Madison Funds had to say about QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth-quarter 2022 investor letter:

QUALCOMM Incorporated (NASDAQ:QCOM) continues to be challenged by headwinds in the smartphone supply chain with an expected decline in units for 2022. Despite solid gains in the Internet of Things and Auto segments, Qualcomm’s dominant business remains the smartphone market. We expect to see stabilization of the smartphone market in 2023, including a recovery in China.”

Follow Qualcomm Inc (NASDAQ:QCOM)

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