Research · Sep 3, 2026
Qualcomm FY25 (Sep 28, 2025 FYE) at $44.3B revenue (+14%). QCT $38.4B (+16%): Handsets $27.8B (+12%), Auto $3.96B (+36%), IoT $6.62B (+22%). QTL $5.58B (flat, 72% EBT margin). Net income $5.5B (-45% distorted by $5.7B OBBB tax valuation allowance; underlying ~+10% ex-charge). OCF $14.0B; FCF $12.8B; capital return $12.6B = 98% of FCF (buyback $8.8B + div $3.8B). 19 analyst actions Feb-Apr 2026: 4 downgrades + 2 reinstated UW + 2 upgrades. PT range collapsed $132-$190 → $120-$150. Apple modem 2027 expiration central thesis question.
Research · Apr 28, 2026
BNP Paribas downgraded QCOM to neutral with a $120 PT amid Apple modem losses and China risks, but record $12.3B Q1 FY2026 revenues, resilient QTL royalties, and AI/auto growth make the move overblown. Trading at a peer discount, QCOM remains a buy for diversification beyond handsets.
Research · Apr 13, 2026
Japan's $16B Rapidus funding ignites a fab boom, favoring US equipment leaders AMAT, LRCX, and KLAC while challenging TSM. NVIDIA and QCOM gain indirectly from capacity growth. Ranked picks highlight equipment purity over foundry risks.
Research · Apr 10, 2026
Qualcomm's 25.5% plunge underscores mobile and auto chip slowdown, hurting QCOM, NXPI, and TXN, while AI tailwinds propel NVDA, AMD, and MU. The article analyzes exposure, financials, and ranks conviction plays amid the sector divide.
Research · Apr 10, 2026
DRAM prices have surged 90-95% with two-year backlogs, igniting a memory boom from AI demand. Micron leads with direct exposure, followed by equipment maker Applied Materials and GPU giants NVIDIA/AMD. Ranked picks favor pure-plays at attractive valuations amid the upcycle.
Research · Apr 10, 2026
DRAM prices have surged 90-95% with 2-year backlogs per 247WallSt, igniting a chip upturn favoring MU, AMAT, NVDA, AMD, AVGO, and QCOM. Micron leads with direct exposure and cheap valuation, while equipment and AI plays follow. Ranked conviction highlights top winners amid AI-driven shortages.
Research · Apr 10, 2026
The semiconductor industry is facing a potential helium supply crisis, with major manufacturers like Intel and AMD at risk. Helium is crucial for semiconductor fabrication, and its expected exhaustion by June 2026 could significantly impact production capabilities. Investors should monitor developments closely as the situation unfolds.
Research · Apr 9, 2026
Anchored by Bloomberg's confirmation of Apple's foldable iPhone for September 2026, this analysis ranks six suppliers—AVGO, MU, COHR, QCOM, JBL, CRUS—by conviction to capture innovation spillover. Leaders like Broadcom and Micron offer explosive growth from custom chips and memory demands.
