China’s Real Estate Market Crash Can Affect These 5 American Stocks

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 73      

QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. The company generates more than 60% of revenue from shipments to China. These shipments are primarily intended for smartphone manufacturers. In light of declining smartphone sales, the revenues of the firm have taken a hit, and it lowered guidance for the fourth quarter recently. A slowdown in the Chinese economy because of a real estate crash would be a major downturn for the shares. 

On July 28, Canaccord analyst T. Michael Walkley maintained a Buy rating on QUALCOMM Incorporated (NASDAQ:QCOM) stock and lowered the price target to $225 from $250, noting that the firm could gain strongly from leadership in the 5G space. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in QUALCOMM Incorporated (NASDAQ:QCOM), with 3.5 million shares worth more than $538 million.