5 Cheap NASDAQ Stocks to Buy

In this article, we discuss 5 cheap NASDAQ stocks to buy. If you want to see more cheap NASDAQ stocks to buy, the risk/reward, and methodology of this list, go directly to 11 Cheap NASDAQ Stocks to Buy.

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 80

Given the broader market decline, semiconductor maker QUALCOMM Incorporated (NASDAQ:QCOM) shares have declined 37.4% year to date to trade for a forward P/E ratio of 9.38 which is fairly attractive given the company’s quality business and its earnings potential.

Despite macroeconomic challenges, QUALCOMM Incorporated (NASDAQ:QCOM)’s Q4 fiscal 2022 sales rose 22% year over year to $11.39 billion and its diluted EPS rose 23% year over year to $3.13. While the company expects its largest customers to draw down inventory for Q1 fiscal 2023 which might negatively impact EPS by approximately $0.80, QUALCOMM Incorporated (NASDAQ:QCOM) nevertheless expects to earn an adjusted diluted EPS of $2.25 – $2.45 per share for the quarter.