On January 25, 2026, Mizuho Securities analyst Vijay Rakesh adjusted his 12-month price target for Qualcomm to $160 from $175, signaling a more conservative view on near-term valuation. Despite this reduction, Commerzbank Aktiengesellschaft FI boosted its position by 1.7%, now holding 472,843 shares valued at $78.7 million, representing 1.6% of its total portfolio and ranking Qualcomm as its 20th largest holding. First Citizens Bank and Trust Co. also expanded its third‐quarter position by 3.9%, underscoring continued confidence among large institutions in Qualcomm’s long-term growth trajectory within mobile communications and semiconductor solutions.

In its latest 13F filing, Appaloosa Management revealed that billionaire David Tepper sold out of stakes in high-profile AI beneficiaries such as Oracle, Micron and Intel to deploy capital into Qualcomm. Tepper’s move reflects a contrarian value strategy: although Qualcomm’s stock has appreciated by over 31,000% since its early 1990s IPO, it has traded sideways for the past two years, presenting an entry point. Tepper’s fund anticipates that Qualcomm’s upcoming AI-focused Snapdragon and rack-level inference chips—due for release in 2026 and 2027—will capture growth across smartphones, data centers and automotive applications, while the company’s forward price-to-earnings multiple of 13 signals relative undervaluation against peers.

During the third quarter, Cullen Frost Bankers Inc. trimmed its Qualcomm stake by 25.0%, selling 59,337 shares and ending the period with 177,976 shares valued at approximately $29.6 million. Company insiders have also reduced their holdings over the past three months by 44,820 shares. Meanwhile, Qualcomm reported third-quarter revenue of $11.27 billion—10.0% year-over-year growth—and non‐GAAP earnings per share of $3.00, outperforming consensus by $0.13. The board declared a quarterly dividend of $0.89 per share, equating to an annualized yield of 2.3%, and issued first-quarter EPS guidance between $3.30 and $3.50. With analysts’ consensus EPS forecast for fiscal 2026 at 9.39, the company’s strong free-cash-flow generation and robust patent licensing model support a stable outlook heading into the year ahead.