Goldman Sachs Semiconductor Stocks: Top 12 Picks

9. Qualcomm Incorporated (NASDAQ:QCOM)

Goldman Sachs Stake: $1,409,553,479

Number of Hedge Fund Holders: 63

Qualcomm Incorporated (NASDAQ:QCOM) is among Goldman Sachs’ top semiconductor stock picks. On January 21, 2026, Qualcomm Incorporated (NASDAQ:QCOM) said it plans to release its first-quarter fiscal 2026 financial results on February 4, 2026.

Earlier on January 16, Qualcomm Incorporated announced a quarterly cash dividend of $0.89 per share, to be paid on March 26 this year. All shareholders on record at the close of business March 5 will receive the payment.

The new payment equates to an annualized payout of $3.56 per share. This is a dividend yield of roughly 2.2% based on the stock price at the time of the announcement. And the payment is the same amount Qualcomm has paid in recent quarters, including the September 2025 payout. Prior to 2025, Qualcomm’s dividend was $0.85 per share, and the increase to $0.89 was approved by the board in March 2025.

In a different update, on January 14, RBC Capital started covering Qualcomm with a Neutral Sector Perform rating and a $180 price target. The firm noted that Qualcomm has experienced several struggles recently. It pointed out that the company’s stock has lagged behind the broader semiconductor index over the past year, and that it was hit by slow smartphone sales, Apple’s move to make its own modems, and no strong story yet in data center AI.

As a result, RBC expects limited overall revenue growth for Qualcomm in the coming two years. The analysts pointed out that losses in market share at big clients like Apple and Samsung will likely cancel out strong progress in automotive chips, extended reality (XR) devices, and Internet of Things (IoT) products.

Qualcomm Incorporated (NASDAQ:QCOM) is a semiconductor company. It develops and supplies wireless technology solutions, including system-on-chip products, modems, and processors used in smartphones, automotive, and IoT devices.