Qualcomm stock forecast remains bullish as QCOM trades near

Qualcomm stock forecast remains bullish as QCOM trades near $168, supported by strong quarterly earnings up 12% YoY and rising demand for 5G chipsets in smartphones and automotive sectors. Analysts cite resilient margins and robust guidance for FY2024 with EPS projected at $9. Let’s break down its revenue for the QCT segment (chip sales). The market’s lukewarm demand for new smartphones led to a 22% decline in Handset chip sales in Fiscal 2023, while its IoT (Internet of Things) chip sales dropped 19.2% year-over-year. Qualcomm’s Automotive chip sales, on the other hand, stood out with a 24% increase from Fiscal 2022. 5 Hot Stocks to Buy Now: October's Top Picks With Major Upside Qualcomm stock forecast incorporates macroeconomic tailwinds from easing interest rate pressures, which enhance tech valuations and margin expansion prospects.