Core Viewpoint - Qualcomm Incorporated (NASDAQ:QCOM) is recognized as one of the top AI stocks to watch, with an Overweight rating and a price target of $200.00 reaffirmed by Piper Sandler following strong earnings results for the first quarter of fiscal 2026 [1][2]. Financial Performance - The company reported earnings per share (EPS) of $3.50, surpassing the forecast of $3.40, and revenue of $12.25 billion, exceeding expectations of $12.11 billion [2]. - Despite beating expectations, Qualcomm's guidance for March 2026 is cautious due to memory constraints affecting certain OEMs, particularly in China, leading to reduced supply forecasts [2]. Business Segment Insights - For the March 2026 quarter, Qualcomm's handset business is projected to decline sharply by 22% sequentially, while segments such as Automotive and IoT are experiencing strong growth [3]. - The research firm does not foresee a significant recovery in the handset business until September 2027, impacted by tight memory conditions and an agreement with Apple [4]. Strategic Outlook - Qualcomm is expected to clarify its data center strategy during the upcoming analyst day, which could potentially enhance estimates [4]. - The company develops wireless technologies, supplies chips for mobile, automotive, and IoT, licenses patents, and invests in emerging technologies [5].

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 10 AI Stocks Analysts Are Watching. On February 2, Bernstein SocGen Group analyst Stacy Rasgon lowered the price target on the stock to $200.00 (from $215.00) while maintaining an “Outperform” rating. Despite certain risks, the firm is constructively positive on the stock driven by a developing undervalued growth narrative. Bernstein noted how the QCOM shares have lagged in recent months due to factors such as a general distaste of smartphones, AAPL roll ...