Qualcomm Inc. (QCOM): Navigating Global Smartphone Challenges with 5G and IoT Strength

Group 1 - Qualcomm Inc. is considered one of the best cheap stocks to buy for 2026, but Mizuho has trimmed its price target from $175 to $160 while maintaining a Neutral rating due to a weaker outlook for global handset demand [1] - Mizuho expects global handset shipments to decline by about 4% in 2026 compared to 2025, with a potential downside risk of more than 5% due to higher memory prices and supply shortages, particularly in the second half of 2026 [2] - Chinese OEMs are projected to cut handset output by about 10%, with their inventory levels decreasing from 13-17 weeks to about 2-4 weeks year-on-year, indicating significant pressure on Android makers as memory prices rise [2] Group 2 - Qualcomm is facing tougher competition from MediaTek in the high-end chip market, along with content cuts from Apple and Huawei, which are expected to contribute to a projected earnings decline of about 3% year-on-year [3] - The company is anticipated to experience only low single-digit growth from fiscal 2026 to 2028, reflecting the challenging market conditions [3] - Qualcomm designs and supplies semiconductors, software, and wireless technology solutions, focusing on mobile connectivity, 5G infrastructure, and Internet of Things applications [4]