Benchmark Reaffirms ‘Buy’ Rating on QUALCOMM Incorporated (QCOM) With $200 PT

With strong hedge fund interest and a low price-to-earnings ratio, QUALCOMM Incorporated (NASDAQ:QCOM) secures a place on our list of the 10 Most Undervalued Value Stocks to Buy Now.

Benchmark Reaffirms ‘Buy’ Rating on QUALCOMM Incorporated (QCOM) With $200 PT

A technician installing high-speed internet cables.

On July 31, 2025, Benchmark reaffirmed its ‘Buy’ rating and $200 price target on QUALCOMM Incorporated (NASDAQ:QCOM). This reiteration comes despite a dip in after-hours trading. The bullish stance is attributed to the company’s strong quarterly results, where the Automotive segment recorded 21% year-over-year growth. The IoT segment climbed 24%, while the Handsets segment recorded a 7% growth, thanks to strong Snapdragon 8 Elite demand in premium devices.

Despite the eventual loss of Apple business, the investment firm highlighted QUALCOMM Incorporated (NASDAQ:QCOM)’s diversification strategy, which resulted in the Automotive segment’s quarterly contribution of $1 billion and the IoT segment’s contribution of $1.7 billion. The analyst believes the after-hours dip was due to the company’s EPS guidance, which failed to surpass Street’s estimates.

Operating across Chipset, Technology Licensing, and Strategic Investment segments, QUALCOMM Incorporated (NASDAQ:QCOM) delivers foundational wireless technologies. It is included in our list of the most undervalued value stocks to buy.

While we acknowledge the potential of QCOM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QCOM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.