With a market cap of $153.5 billion, QUALCOMM Incorporated (QCOM) is a prominent American semiconductor and telecommunications equipment company. Founded in 1985 and headquartered in San Diego, California, Qualcomm specializes in designing and manufacturing wireless technology products, including semiconductors and software solutions. 

Shares of the chipmaker have underperformed the broader market over the past 52 weeks. QCOM stock has declined 22.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 12.3%. On a YTD basis, shares of QCOM are down 9%, compared to SPX's 3.3% plunge.

Zooming in, the stock has also trailed the S&P Semiconductor SPDR (XSD). The exchange-traded fund has dropped 7.7% over the past year. 

On May 2, Qualcomm shares closed up more than 3% as part of a broader rally in chip stocks that boosted the overall market.

For the current fiscal year, ending in September 2025, analysts expect QCOM's EPS to grow 12.3% year-over-year to $9.50. The company's earnings surprise history is promising. It beat the consensus estimates in the last four quarters.

Among the 31 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 16 “Strong Buy” ratings, 14 “Holds,” and one “Strong Sell.”

This configuration is more bullish than a month ago, when the stock had 15 “Strong Buy” ratings. 

On May 2, Evercore ISI analyst Mark Lipacis maintained an "In-Line" rating on Qualcomm but lowered the price target from $179 to $157.

QCOM’s average price target of $186.88 indicates a premium of 33.7% from the prevailing market prices. The Street-high price target of $245 implies a potential upside of 75.2% from the current price levels.