QUALCOMM Incorporated (NASDAQ:QCOM) is listed among the Goldman Sachs Dividend Stocks: Top 14 Stock Picks. Loop Capital upgraded Qualcomm to Buy, with analyst Gary Mobley raising the price target to $185 from $140, implying a 32% upside. The firm sees Qualcomm nearing a turning point, with easing pressures and new growth opportunities.

Mobley cited Qualcomm’s underperformance in the chip sector due to lack of data center AI benefits. He expects chip supply conditions to improve, supporting a broader recovery and momentum for Qualcomm. The company’s diversification efforts beyond smartphones, including data center plans, will be discussed at an upcoming analyst day in early June.

Qualcomm’s push to diversify revenue and secure new data center customers is key to rebuilding investor confidence. Mobley predicts headwinds like stabilizing business with Samsung and reduced reliance on Apple for chip sales. He foresees growth in Qualcomm’s automotive and Internet of Things segments, possibly matching or exceeding smartphone business by fiscal 2029.

QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes core technologies for the wireless communications industry. While QCOM shows investment potential, some AI stocks may offer greater upside with less downside risk. For an undervalued AI stock poised to benefit from tariffs and onshoring trends, a free report on the best short-term AI stock is available.

Read more at Yahoo Finance: Loop Capital Upgrades Qualcomm (QCOM) to Buy, Sees Stock Nearing Turning Point