QUALCOMM Incorporated (QCOM)

Qualcomm's stock is trading in the middle of its 52-week range after a mixed stretch. Analysts are split, with Freedom Broker cutting its rating to Hold from Buy on November 9, 2026, while UBS, JP Morgan, TD Cowen and Rosenblatt all kept their ratings on November 5 and 6. The stock sits 1.10% below its 50-day average but 3.87% above its 200-day average, so the trend is mixed. Investors are weighing a cheap valuation against a shrinking top line and an EPS miss in the November 3 report. The price is 40% of the way up its 52-week range, 32.08% below the 52-week high of $259.92 and 32.08% below the low of $121.99. Over the past year the stock is up 1.48%, but it is down 17.18% over six months, so the recent gains have only partly recovered the earlier decline.

Analyst opinion on the stock is split and has moved toward the middle. Of 37 analysts with a current rating, 11 rate it buy or strong buy, 23 rate it hold and 3 rate it sell or strong sell. Three months ago the buy count was also 11 out of 37, so the change is mainly in the wording of recent actions rather than in the overall count. Freedom Broker downgraded the stock to Hold from Buy on November 9, 2026. On November 5 and 6, UBS, JP Morgan, TD Cowen and Rosenblatt all reiterated their existing ratings, with UBS and JP Morgan holding Neutral and TD Cowen and Rosenblatt holding Buy.

Across its last eight reports, the stock beat the EPS estimate six times and missed twice, yet the share price was lower in the first session after six of them. A beat has not reliably set the direction of the next trading day: the stock fell in the first session after five of the six beats, and the July 29, 2026 miss was followed by a 2.62% decline.

Revenue shrank 8.40% in the latest quarter compared with the same quarter a year earlier, while the sector median revenue growth is 24.2%. That gap of 32.6 percentage points is the main weakness in the stock's profile. Against that, the trailing P/E is 13.41, a discount of 61.8% to the sector median P/E of 35.1, and the price-to-sales ratio of 4.25 is 44.0% below the sector median of 7.6. Return on equity of 52.81% is well above the sector median of 13.4%, and the debt-to-equity ratio is 0.53. The company's profitability and balance sheet are strong, but they are not yet matched by revenue growth.

The price is 1.10% below its 50-day simple moving average of $178.51 and 3.87% above its 200-day average of $169.98, so the averages point in different directions. The 50-day average remains 5.02% above the 200-day average. The 14-day RSI is 51.9, which is in the neutral zone, while the MACD line is negative. Over one week the stock rose 1.22%, and over one month it rose 1.22%.

The base case is that QCOM trades in a range while the stock works through the 50-day average. Its path depends on whether revenue stops shrinking and whether the expected growth in fiscal 2028 is delivered. Analysts expect EPS to shrink 5.9% in fiscal 2027 and grow 26.0% in fiscal 2028, so the next two quarters of revenue and EPS will test that expectation. What would make the picture better is a clear return to revenue growth and a steady pattern of EPS beats, which would support the low P/E of 13.41 against a sector median of 35.1. The median analyst 12-month target is $177.50, just 1.1% above the price, with a range from $100.00 to $400.00. Those targets show how widely analysts disagree about the stock's future.

Support sits at $172.98, the 20-day exponential moving average, which is the nearest level below the price. A close pattern that breaks below it would bring the 200-day simple moving average at $169.98 into focus, and below that the 52-week low of $121.99 is the far floor. Resistance starts at the 50-day simple moving average of $178.51, the nearest level above the price. A move through it would expose the 52-week high of $259.92 as the next upside marker.