Prediction: This Underrated Semiconductor Stock Will Jump 187% in 3 Years
The growth in Qualcomm's non-handset business could supercharge the stock's performance following poor returns in 2026.
Qualcomm’s stock has underperformed in 2026 due to a sharp decline in smartphone sales, but patient investors may find potential for significant returns. Despite a 2% drop in fiscal 2026 revenue to $43.2 billion and a 12% decline in non-GAAP EPS to $10.54, the company’s forecast for the next few years is positive. Qualcomm’s automotive business and AI data center chips are expected to drive growth, with a projected 70% increase in the design win pipeline for these segments.
The company anticipates reaching $40 billion in non-handset revenue by 2029, nearly doubling its current non-handset revenue of $13.1 billion. If this projection holds, Qualcomm’s EPS is expected to grow from 28% in fiscal 2028 to 33% in fiscal 2029, potentially driving its stock price to $491 – an 187% increase from its current price.
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