Is QCOM a good stock to buy? We came across a bullish thesis on QUALCOMM Incorporated on Forex’s Substack by ImmaculateTony.eth. In this article, we will summarize the bulls’ thesis on QCOM. QUALCOMM Incorporated’s share was trading at $137.52 as of April 20th. QCOM’s trailing and forward P/E were 27.73 and 12.61 respectively according to Yahoo Finance.
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Qualcomm Incorporated ($QCOM) is a leading U.S. semiconductor and wireless technology company, powering the backbone of modern smartphones, 5G networks, and connected devices. Its Snapdragon processors dominate Android phones, while its modems and connectivity chips serve phones, laptops, cars, and IoT devices.
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Qualcomm’s licensing business is highly profitable, generating royalties from manufacturers using its wireless patents, and providing strong free cash flow that supports consistent dividend growth. The company’s long-term positioning in 5G, AI-enabled devices, and semiconductor innovation gives it durable growth potential, making it a candidate for future Dividend Aristocrat status.
Technically, key support lies between $105–$120, a zone considered undervalued relative to the current price range of $135–$162, while resistance is near $205 with an all-time high around $230. Historically, Qualcomm has demonstrated strong cyclical upside, moving from roughly $104 to $230 in 2023, underscoring the potential for long-term accumulation at lower levels. Dividend investors can benefit from a 2–3% yield, which would naturally rise if shares retrace toward the $105–$120 support range.
Options strategies, including cash-secured puts near $120, covered calls against 100+ share positions, and defined-risk vertical put spreads, allow investors to generate income, accumulate shares at attractive levels, and manage downside risk while maintaining long-term exposure.
Overall, Qualcomm presents a compelling investment case for long-term investors seeking growth, dividend income, and optionality, with a favorable risk/reward profile if the stock re-engages its structural support and executes on its technology leadership. Strategic accumulation around support zones, combined with premium generation from options, provides a multi-faceted approach to benefiting from both capital appreciation and recurring income.
Previously, we covered a bullish thesis on QUALCOMM Incorporated (QCOM) by Christopher Kirincic in May 2025, which highlighted the company’s leadership in 5G and Snapdragon processors, expansion into automotive and AI edge computing, and strong licensing cash flows supporting long-term growth. QCOM’s stock price has depreciated by approximately 9.82% since our coverage due to investor concerns about losing Apple as a modem customer, softer smartphone chip demand, and weaker near-term guidance tied to supply-chain constraints in the handset market. ImmaculateTony.eth shares a similar view but emphasizes technical entry points, dividend yield, and options strategies for accumulating shares during the pullback.
QUALCOMM Incorporated is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 78 hedge fund portfolios held QCOM at the end of the fourth quarter which was 63 in the previous quarter. While we acknowledge the risk and potential of QCOM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QCOM and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
