Qualcomm Stock (NASDAQ:QCOM), Trade Ideas

Qualcomm

Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.

Mobileye_autonomous_shuttle_i-Cristal_by_Lohr_Group_&_Transdev_ATS

Analyst Color

Short Ideas

Downgrades

Price Target

Analyst Ratings

Movers

Trading Ideas

AAPL

MBLY

NVDA

QCOM

VWAGY

XIACF

Mobileye Global reported a 48% year-on-year decline in revenues for the first quarter.

Mobileye Global Hit By Surprise EV Slowdown; This Analyst Turns Bearish

Qualcomm Snapdragon

News

Initiation

Tech

FTXL

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Analyst initiated coverage on Qualcomm (QCOM) with Buy rating and $200 price target. Positioned to lead in AI and new markets, expects strong growth.

Qualcomm Poised for Growth in AI Smartphones and Automotive Sectors Amid Expanding Market Presence: Analyst

Earnings

Markets

SIMO

International Business Machines Corporation (NYSE: IBM) is scheduled to report first-quarter 2024 results on Apr 24, after the closing bell.

Will Higher Software Revenues Benefit IBM&#39;s Q1 Earnings?

Qualcomm Inc

Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) reported a 48% year-on-year revenue decline <a href="https://www.benzinga.com/news/earnings/24/04/38432965/intel-spinoff-mobileye-revenue-falls-amid-supply-chain-reset-ceo-optimistic-about-recovery">for the first quarter</a>.
According to Morgan Stanley, the stiff competition and the unexpected downturn in electric vehicle (EV) adoption limits Mobileye's TAM (total addressable market) through 2030.
The Mobileye Global Analyst: Adam Jonas downgraded the rating for Mobileye Global from Equal-Weight to Underweight. He also lowered the price target from $26 to $25.
The Mobileye Global Thesis: While Mobileye Global's SuperVision product is "impressive," its potential relies on several factors that are outside the company's control, Jonas said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"While we see significant value in Mobileye&#8217;s position as a market leader in computer vision and core ADAS offerings," there are headwinds for new content growth for advanced ADAS systems, the analyst wrote.
The EV deceleration limits the near-term TAM for SuperVision, "as legacy automakers (driven by capital discipline) elect not to allocate their capex and R&amp;D dollars on AV tech for mass market ICE platforms," he added.
Mobileye Global is facing heightened competition within and outside China. Jonas cited low-cost providers, and pure-play semiconductor companies like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>). 
Big tech players, like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), are also exploring ADAS. Several automakers are also exploring in-house solutions like Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) and Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>), Jonas further stated.
MBLY Price Action: Shares of Mobileye Global had declined by 6.05% to $29.03 at the time of publication on Friday.
Now Read: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/04/38467013/tech-stocks-rebound-as-magnificent-7-roar-on-strong-earnings-energy-giants-tumble-wh">Tech Stocks Rebound As Magnificent 7 Roar On Strong Earnings, Energy Giants Tumble: What&#8217;s Driving Markets Friday?</a>
Image: Wikimedia Commons

WIIM

KLAC

LRCX

MPWR

QRVO

Shares of chip stocks are trading higher in sympathy with Texas Instruments, which reported better-than-expected Q1 financial results.

<a href="https://www.qualcomm.com/news/releases/2024/04/qualcomm-continues-to-disrupt-the-pc-industry-with-the-addition-">https://www.qualcomm.com/news/releases/2024/04/qualcomm-continues-to-disrupt-the-pc-industry-with-the-addition-</a>
&nbsp;

'Qualcomm Continues To Disrupt The PC Industry With The Addition Of Snapdragon X Plus Platform'

Benchmark&nbsp;analyst Cody Acree initiated coverage on&nbsp;Qualcomm Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Buy rating and a&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/QCOM/analyst-ratings" rel="noreferrer noopener">price target of&nbsp;$200</a>.
Qualcomm&nbsp;is particularly well positioned&nbsp;to capitalize on the&nbsp;industry's&nbsp;trends of shifting AI computational inferencing workloads to the very edges of the network, where the company is leveraging its strengths in wireless connectivity and computing to lead the market in the ramp of generative AI smartphones and AI-PCs, with both likely sparking long-term replacement cycles in their respective markets, Acree said.&nbsp;
He noted that these replacement cycles should counter investor concerns of core market stagnation.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38156042/microsoft-set-to-unveil-qualcomm-powered-ai-pcs-aiming-to-surpass-apples-macbook-air" rel="noreferrer noopener">Microsoft Set to Unveil Qualcomm-Powered AI PCs, Aiming to Surpass&nbsp;Apple's&nbsp;MacBook Air</a>
The company also leverages its wireless and compute strengths to capitalize on the opportunity to grow into new markets such as Autos and IoT.
Acree heard encouraging feedback from multiple industry checks, suggesting at least 15-20% annual increases in the volumes of Samsung S24 smartphone variants as compared to last&nbsp;year's&nbsp;S23 volumes.
He sees solid anecdotal indications regarding consumer demand for the QCOM-powered S24 Ultra model across the U.S. and Europe.&nbsp;
These positive Samsung indications should be echoed in&nbsp;QCOM's&nbsp;earnings report and help offset a weaker seasonal add from&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).&nbsp;
The analyst flagged Counterpoint Research, expecting Qualcomm to capture over 80% of the GenAI smartphone market for the next two years as GenAI drives smartphone refresh rates.&nbsp;
He also highlighted&nbsp;Qualcomm's growth&nbsp;from higher adoption of AI PCs and stronger automotive activity.
Acree projected second-quarter revenue and EPS of $9.41 billion and $2.35.
Qualcomm stock gained 38% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and&nbsp;IShares Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>).
Price Action: QCOM shares closed higher by 0.73% at $161.35 on Tuesday.
Photo by Monoar Rahman Rony from Pixabay

Whales with a lot of money to spend have taken a noticeably bullish stance on Qualcomm.
Looking at options history for Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) we detected 70 trades.
If we consider the specifics of each trade, it is accurate to state that 52% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $1,164,630 and 53, calls, for a total amount of $5,656,812.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $220.0 for Qualcomm over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Qualcomm's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Qualcomm's significant trades, within a strike price range of $120.0 to $220.0, over the past month.
<h3>Qualcomm 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713898850_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$11.25</td>
<td>$11.1</td>
<td>$11.1</td>
<td>$155.00</td>
<td>$987.9K</td>
<td>8.6K</td>
<td>3.3K</td>
</tr>
<tr>
<td>QCOM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$14.9</td>
<td>$11.75</td>
<td>$12.89</td>
<td>$135.00</td>
<td>$451.1K</td>
<td>533</td>
<td>356</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$11.15</td>
<td>$11.05</td>
<td>$11.05</td>
<td>$155.00</td>
<td>$392.2K</td>
<td>8.6K</td>
<td>2.0K</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$11.05</td>
<td>$11.0</td>
<td>$11.0</td>
<td>$155.00</td>
<td>$254.1K</td>
<td>8.6K</td>
<td>920</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$37.65</td>
<td>$37.0</td>
<td>$37.11</td>
<td>$150.00</td>
<td>$241.2K</td>
<td>1.4K</td>
<td>161</td>
</tr>
</tbody>
</table>

<h3>About Qualcomm</h3>
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
Having examined the options trading patterns of Qualcomm, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Qualcomm's Current Market Status</h3>
<ul>
<li>Trading volume stands at 3,256,112, with QCOM's price up by 1.22%, positioned at $162.14.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 8 days.</li>
</ul>
<h3>Expert Opinions on Qualcomm</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $195.4.
<ul>
<li>An analyst from Keybanc persists with their Overweight rating on Qualcomm, maintaining a target price of $205. </li>
<li>An analyst from Benchmark downgraded its action to Buy with a price target of $200. </li>
<li>An analyst from Cantor Fitzgerald persists with their Neutral rating on Qualcomm, maintaining a target price of $190. </li>
<li>An analyst from Susquehanna has decided to maintain their Positive rating on Qualcomm, which currently sits at a price target of $205. </li>
<li>An analyst from Evercore ISI Group has revised its rating downward to In-Line, adjusting the price target to $177. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Qualcomm with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

What the Options Market Tells Us About Qualcomm

International Business Machines Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ibm#NYSE">IBM</a>) is scheduled to report first-quarter 2024 results on Apr 24, after the closing bell. In the to-be-reported quarter, the company is likely to have recorded higher revenues from the Software segment backed by growing demand for its advanced AI-driven solutions and product innovation.
<h3>Factors At Play</h3>
The Software segment includes Hybrid Platform &amp; Solutions comprising software services, Red Hat, automation and data &amp; artificial intelligence&nbsp;businesses and Transaction Processing. 
During the first quarter, IBM introduced LinuxONE 4 Express, an advanced data center solution designed to provide cybersecurity, scalability and AI inferencing for hybrid cloud environments. The solution&#39;s cutting-edge features make it suitable for a multitude of use cases for startups and small and medium-sized enterprises. 
With built-in hardware-based security technology and confidential computing capabilities, the solution effectively shields sensitive data and digital assets. It enhances protection against both external threats and insider breaches by enabling scalable isolation for individual workloads, while consolidation of databases into a LinuxONE system significantly lowers costs and streamlines IT environments. The seamless integration enables data analysis to be conducted exactly where the data is located. These are likely to have supported the top line in the Software segment. 
In the first quarter, IBM integrated the open-source Mixtral-8x7B large language model into its watsonx AI and data platform. The optimized version of Mixtral-8x7B, developed by Mistral AI, showcases impressive performance gains. Internal tests reveal a remarkable 50% increase in throughput compared to the standard model. By leveraging quantization techniques to reduce the model size and memory requirements, IBM anticipates significant reductions in latency, potentially ranging from 35% to 75%, depending on batch size. 
Mixtral-8x7B&#39;s incorporation underscores IBM&#39;s dedication to cutting-edge AI research and development. Built on innovative Sparse modeling and the Mixture-of-Experts technique, this model excels in rapid data processing and contextual analysis. Its ability to efficiently handle vast datasets makes it a valuable asset for businesses seeking actionable insights. All these are likely to be reflected in the upcoming results.
<h3>Overall Expectations</h3>
The Zacks Consensus Estimate for Software revenues is pegged at $5,998 million, indicating marginal growth from $5,921 million in the year-ago quarter. However, our estimate for revenues from Software is pegged at $6,140 million, suggesting a 3.7% improvement year over year. 
The Zacks Consensus Estimate for total revenues for the company stands at $14,577 million. It generated revenues of $14,252 million in the prior-year quarter. The consensus mark for earnings is currently pegged at $1.60 per share, indicating growth from $1.36 in the year-earlier quarter.
<h3>Earnings Whispers</h3>
Our proven model predicts an earnings beat for IBM for the first quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is perfectly the case here. 
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +0.39%.
<div class="chart_embed">
<h3>International Business Machines Corporation Price And EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/IBM/price-eps-surprise?icid=chart-IBM-price-eps-surprise"><img alt="International Business Machines Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/10/1713869997.png" style="height:263px; width:545px" title="" /> </a>
International Business Machines Corporation price-eps-surprise | International Business Machines Corporation Quote
</div>
Zacks Rank: IBM has a Zacks Rank #3.
<h3>Other Stocks to Consider</h3>
Here are some other companies you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this season: 
Qualcomm Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>) is set to release quarterly numbers on May 1. It has an Earnings ESP of +2.78% and a Zacks Rank #3. 
The Earnings ESP for Silicon Motion Technology Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/simo#NASDAQ">SIMO</a>) is +5.96% and it carries a Zacks Rank of 2. The company is scheduled to report quarterly numbers on May 2. 
The Earnings ESP for Meta Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is +0.62% and it carries a Zacks Rank of 2. The company is scheduled to report quarterly numbers on Apr 24.
<a href="https://www.zacks.com/stock/news/2259829/will-higher-software-revenues-benefit-ibm-s-q1-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2259829">To read this article on Zacks.com click here.</a>

Will Higher Software Revenues Benefit IBM's Q1 Earnings?

Benchmark analyst Cody Acree initiates coverage on Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Buy rating and announces Price Target of $200.

Benchmark Initiates Coverage On Qualcomm with Buy Rating, Announces Price Target of $200

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has opened up the Quest operating system that powers its <a href="https://www.benzinga.com/topic/meta-quest">mixed reality devices</a> to third-party hardware manufacturers, taking a leaf out of Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google playbook.
What Happened: Meta will collaborate with other hardware manufacturers to help them power their mixed reality headsets with its Quest operating system. This move is the result of Meta's investments in mixed reality, starting with Oculus in 2014 for $2 billion.
The company is collaborating with leading global technology firms to create a new ecosystem of mixed-reality devices. This will provide developers with a broader range of hardware to run their apps, similar to the PC and smartphone markets.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
The new hardware ecosystem will be powered by Meta Horizon OS, the mixed-reality operating system that drives the Meta Quest headsets. This OS combines core technologies that power today&#8217;s mixed reality experiences with features that prioritize social presence.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38330972/metas-ai-assistant-now-integrates-real-time-google-search-bing-results-expert-calls-it-the-smart">Meta&#8217;s AI Assistant Now Integrates Real-Time Google Search, Bing Results: Expert Calls It &#8216;The Smart Route'</a>
Meta will also leverage its partnership with Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), to help manufacturers hop onto the Quest platform.
Meta is also making it easier for developers to reach their audiences by removing barriers between the Meta Horizon Store and App Lab, a platform that allows any developer who meets basic technical and content requirements to release software.
Why It Matters: Meta's decision to open up the Quest operating system adopts the strategy that Google used with Android. Smartphone makers like Samsung Electronics Co Ltd., Xiaomi, OnePlus, and others use Android, while Google does most of its core development.
Earlier, Meta also <a href="https://www.benzinga.com/news/24/04/38358203/mark-zuckerberg-wont-just-open-source-instagrams-code-but-would-he-do-it-for-a-10b-ai-model-he-says">open-sourced</a> its latest AI model, Llama 3, while CEO Mark Zuckerberg underscored the company's philosophy on open-sourcing technology.
Broadly, it follows the same path as Google took with Android – it standardizes the ecosystem, and several players, including Google itself, benefit from the economies of scale it results in.
Meta also recently <a href="https://www.benzinga.com/general/gaming/24/04/38364762/microsoft-meta-reveal-limited-edition-meta-quest-vr-headset-with-game-pass-bundle">collaborated with Microsoft</a> to produce a limited edition Meta Quest VR headset inspired by Xbox. It also <a href="https://www.benzinga.com/general/gaming/24/04/38342816/meta-quest-2-price-permanently-cut-in-half-concerns-linger-about-long-term-support">permanently slashed the price</a> of its Meta Quest 2 virtual reality headset to $199.
Price Action: Meta's stock closed 0.14% up at $481.73 on Monday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tucker Carlson Saying There&#8217;s &#8216;Ton Of Evidence&#8217; That Aliens Live Among Us</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Meta Platforms

GOOG

GOOGL

Meta Takes A Leaf Out Of Google's Playbook, Aims To Make Quest OS The Android Of Mixed Reality

Chinese entities have managed to acquire high-end NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips, despite the U.S. imposing a ban on such technology. The chips were obtained through third-party vendors and were embedded in servers made by Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), and Gigabyte Technology Co Ltd.
What Happened: Despite the U.S. expanding its ban on the sale of such technology to China in November, ten Chinese entities successfully acquired advanced Nvidia chips. These chips were integrated into servers manufactured by Super Micro, Dell, and Gigabyte Technology, Reuters reported reviewing hundreds of tender documents.
The servers contained some of Nvidia&#8217;s most advanced chips, as per the tenders fulfilled between Nov. 20 and Feb. 28. The U.S. embargo, which was expanded on Nov. 17, subjected more chips and countries to licensing rules.
The reviewed tender documents showed that the Chinese entities obtained the chips through little-known Chinese retailers. It was unclear whether these retailers used stockpiles acquired before the U.S. tightened chip-export restrictions in November.
See Also: <a href="https://www.benzinga.com/markets/asia/24/04/38351314/did-tesla-just-trigger-another-brutal-price-war-in-china-li-auto-blinks-first-with-up-to-4-000-disco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Did Tesla Just Trigger Another Brutal Price War In China? Li Auto Blinks First With Up To $4,000 Discount</a>
Nvidia stated that the tenders specify products that were exported and widely available before the restrictions. &#8220;They do not indicate that any of our partners violated the export control rules and are a negligible fraction of the products sold worldwide,&#8221; a spokesperson said.
The server makers also claimed they complied with applicable laws or would investigate further.
Daniel Gerkin, a partner at law firm Kirkland &amp; Ellis based in Washington, suggested that Nvidia chips might have been redirected to China without the manufacturer&#8217;s awareness, due to a lack of transparency in downstream supply chains.
A Dell spokesperson said the company &#8220;found no evidence of shipping products configured with the restricted chips you listed to the entities you named&#8221;, but that it would continue to investigate.
Why It Matters: The U.S. has been taking several measures to restrict China&#8217;s access to advanced chip technology. In March, the U.S. announced a <a href="https://www.benzinga.com/news/24/03/38001201/us-to-unveil-list-of-chinese-chip-factories-banned-from-receiving-key-tech-report">list of Chinese chipmaking facilities</a> that would be prohibited from receiving crucial tools. This move was expected to significantly impact the global semiconductor industry.
Despite these restrictions, China has continued to <a href="https://www.benzinga.com/markets/asia/24/04/38024971/china-criticizes-us-chip-export-rules-impacting-nvidia-and-amd">criticize the U.S.&#8217;s semiconductor export regulations</a>. The country remains a crucial market for U.S. semiconductor firms, with companies like Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reporting greater <a href="https://www.benzinga.com/news/24/04/38219726/despite-us-china-tensions-beijing-remains-crucial-market-for-nvidia-intel-and-other-american-chipmak">revenues from China</a> than from the U.S.
Despite the ban, Chinese entities, including the military and government sectors, have managed to <a href="https://www.benzinga.com/government/24/01/36626149/xi-jinpings-military-and-government-continue-to-acquire-banned-nvidia-chips-amid-us-export-restricti">procure Nvidia chips</a> through various means, highlighting the challenges faced by the U.S. in completely cutting off China&#8217;s access to advanced U.S. chips.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38346345/chinese-hackers-may-control-your-water-and-are-laying-in-wait-fbi-warns-3-startups-to-watch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Hackers Could Control Your Water — And Are Laying in Wait: FBI</a>
Image Via Shutterstock 
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

Asia

Equities

Politics

Global

AVGO

DELL

INTC

SMCI

Nvidia's High-End Chips Ended Up In Chinese Hands Despite US Ban: Here's How Beijing Scored Them

Last Thursday, the world&rsquo;s largest producer of advanced processors&nbsp;issued its first quarter results and they were even better than expected as AI demand continues to go strong.&nbsp;Taiwan Semiconductor Manufacturing Company Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>), whose customers include the AI chip leader, NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) as well as the tech titan Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>), expects 2024 to be another year of healthy growth on the back of its technology leadership and broad customer base that also includes&nbsp;Advanced Micro Devices Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) and Qualcomm Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>).
<h3>First Quarter Highlights</h3>
For the quarter ended on March 31st, TSMC reported&nbsp;net revenue grew 16.5%&nbsp;YoY to NT$592.64 billion. Net income rose 8.9% YoY to NT$225.49 billion.
The net profit margin continues to be one of the highest in the company&rsquo;s history at 40%, while an industry average is about 14%,&nbsp;reflecting TSMC&rsquo;s competitiveness.
<h3>Nvidia Set To Become The TSMC Of AI</h3>
Earlier in March, Nvidia clearly stated its aim to become the TSMC for AI as it continues its expansion beyond hardware, entering into software services. During its annual conference, GTC 2024, Nvidia CEO&nbsp;Jensen Huangunveiled new tools. In terms of AI development, Nvidia aims to do for the world exactly that what TSMC does for the AI chip leader by turning its design and concept into physical chips. Therefore, TSMC builds the chips Nvidia, Apple and others need and Nvidia wants to become the AI maker, turning concepts of its clients into a model they get to bring with them.
<h3>Second Quarter Guidance</h3>
For the current quarter, TSMC is supported by strong demand for industry-leading 3-nanometer and 5-nanometer technologies, but this strength is partially offset by a continued smartphone seasonality. TSMC guided for second-quarter revenue in the range between $19.6 billion and $20.4 billion.&nbsp;Due to the recent earthquake in Taiwan along with higher electricity costs, TSMC expects the second quarter gross margin to decline by 1.1 percentage points to 52% at the midpoint. Fortunately, the earthquake that occurred on April 3rd&nbsp;did not cause any power shortages, nor structural damage to the company&rsquo;s facilities and critical tools such as extreme ultraviolet (EUV) lithography system.&nbsp;One of its closest competitors, Intel Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>), lost the lead because TSMC was the first to adopt&nbsp;EUV lithography systems&nbsp;that are essential for its leadership.&nbsp;Although some wafers were affected and had to be scrapped, most of the lost production should be recovered in current quarter, with minimal impact to revenue.
<h3>Outlook</h3>
With AI demand going strong, TSMC managed to&nbsp;weather the tapering off of pandemic-led electronics demand, fueling its stock to new heights.&nbsp;In 2025, TSMC is&nbsp;planning to begin mass-producing its 2-nanometer chips, which come with more power and efficiency compared to its current 3-nanometer ones. As for the full year, TSMC estimates revenue contribution from server AI processors to more than double.&nbsp;For the full year, TSMC guided for low to mid-20% revenue growth under the assumption that the AI market continues to expand while the PC market stabilizes, and the smartphone market returns to growth amid an improved macroeconomic backdrop. Although TMSC might not keep the pace with Nvidia in terms of near-term gains due to the fact its business goes beyond chips, it certainly won&rsquo;t be in a recovery mode like its client,&nbsp;Qualcomm,&nbsp;after the 2023 lulled the smartphone market to sleep. Qualcomm is&nbsp;scheduled to report its fiscal second quarter results on May 1st. Best known for making smartphone chips, Qualcomm did surpass estimates with its fiscal first quarter financials and its upcoming report should reflect the business picking up as smartphone sales continue to recover.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

TSMC Topped Estimates On The Back Of Insatiable AI Demand

CAMT

MCHP

Shares of semiconductor and chip stocks are trading lower. The sector has been under pressure this week following earnings from ASML and TSMC. Stocks have been mixed Friday amid overall market uncertainty on Iran-Israel tensions.

Investors with a lot of money to spend have taken a bearish stance on Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with QCOM, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 69 uncommon options trades for Qualcomm.
This isn't normal.
The overall sentiment of these big-money traders is split between 39% bullish and 60%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $355,404, and 62 are calls, for a total amount of $7,109,290.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $115.0 to $210.0 for Qualcomm over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 2412.75 with a total volume of 259,779.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $115.0 to $210.0 over the last 30 days.
<h3>Qualcomm Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713545149_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.4</td>
<td>$5.25</td>
<td>$5.25</td>
<td>$210.00</td>
<td>$525.0K</td>
<td>7.0K</td>
<td>3.0K</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.15</td>
<td>$5.1</td>
<td>$5.15</td>
<td>$210.00</td>
<td>$514.4K</td>
<td>7.0K</td>
<td>4.4K</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.1</td>
<td>$4.95</td>
<td>$4.95</td>
<td>$210.00</td>
<td>$513.4K</td>
<td>7.0K</td>
<td>6.5K</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$5.3</td>
<td>$5.25</td>
<td>$5.3</td>
<td>$210.00</td>
<td>$442.0K</td>
<td>7.0K</td>
<td>1.8K</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.35</td>
<td>$5.3</td>
<td>$5.35</td>
<td>$210.00</td>
<td>$367.5K</td>
<td>7.0K</td>
<td>992</td>
</tr>
</tbody>
</table>

<h3>About Qualcomm</h3>
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
In light of the recent options history for Qualcomm, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Qualcomm</h3>
<ul>
<li>With a trading volume of 2,902,941, the price of QCOM is down by -2.31%, reaching $157.71.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 12 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Qualcomm</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $194.25.
<ul>
<li>Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Neutral rating on Qualcomm with a target price of $190. </li>
<li>An analyst from Evercore ISI Group downgraded its action to In-Line with a price target of $177. </li>
<li>An analyst from Keybanc persists with their Overweight rating on Qualcomm, maintaining a target price of $205. </li>
<li>Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Qualcomm with a target price of $205. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Qualcomm, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Unpacking the Latest Options Trading Trends in Qualcomm

Alibaba Group Holding Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and Lenovo Group are joining forces to develop a suite of artificial intelligence (AI) products, marking a significant move as Chinese tech giants vie for dominance in the burgeoning field of generative AI.&nbsp;
These offerings will feature AI PCs—computers embedded with chips capable of performing generative AI operations locally—alongside other AI-driven devices and business intelligence solutions.&nbsp;
This collaboration was unveiled at Lenovo&#8217;s Tech World event in Shanghai, highlighting the firm&#8217;s &#8220;in-depth cooperation and joint innovation&#8221;&nbsp;with various domestic entities, including Tsinghua University&#8217;s Institute for AI Industry Research, SCMP&nbsp;<a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3259537/lenovo-and-alibaba-team-build-ai-computers-generative-ai-race-heats-china" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36596609/nvidia-leads-ai-chip-rivalry-with-new-gpus-while-amd-and-intel-bet-big-on-ai-pcs" rel="noreferrer noopener">Nvidia Leads AI Chip Rivalry with New GPUs, While AMD and Intel Bet Big on AI PCs</a>
At the same event, Lenovo introduced specialized versions of its AI PC, the Yoga Book 9i, and additional AI-centric devices. These devices incorporate a personal AI assistant, Lenovo Xiaotian, powered by Alibaba&#8217;s large language model, Tongyi Qianwen.&nbsp;
According to market research firm IDC, AI PCs are poised to dominate the Chinese market. By 2027, they are estimated to constitute 85% of new PC sales.
<a target="_blank" href="https://www.benzinga.com/news/24/04/38156042/microsoft-set-to-unveil-qualcomm-powered-ai-pcs-aiming-to-surpass-apples-macbook-air" rel="noreferrer noopener">Recent reports indicated</a>&nbsp;Microsoft Corp&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) plans to unveil its innovative &#8220;AI PCs,&#8221; aiming to eclipse&nbsp;Apple Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) M3-powered MacBook Air with new laptops fueled by&nbsp;Arm Holdings Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) technology.&nbsp;
These next-generation devices&nbsp;are powered&nbsp;by&nbsp;Qualcomm Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) Snapdragon X Elite processors.&nbsp;
The unveiling will also introduce consumer versions of the Surface Pro 10 and Surface Laptop 6, featuring Snapdragon X Elite chips.&nbsp;
The move aligns with the broader tech industry&#8217;s push, including&nbsp;Advanced Micro Devices, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and&nbsp;Intel Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), to embed AI into the PC experience.
Price Action:&nbsp;BABA shares traded lower by 0.70% at $68.40 premarket on&nbsp;the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Media

BABA

MSFT

Alibaba and Lenovo Team Up to For AI PCs, Setting New Standards in Tech

Qualcomm Enables Meta Llama 3 To Run On Devices Powered By Snapdragon

<a href="https://www.prnewswire.com/news-releases/advantech-establishes-collaboration-with-qualcomm-to-shape-the-future-of-the-edge-302121101.html" title="https://www.prnewswire.com/news-releases/advantech-establishes-collaboration-with-qualcomm-to-shape-the-future-of-the-edge-302121101.html">https://www.prnewswire.com/news-releases/advantech-establishes-collaboration-with-qualcomm-to-shape-the-future-of-the-edge-302121101.html</a>

Advantech To Partner With Qualcomm

U.S. Sen. Tommy Tuberville&#8216;s latest regulatory filing shows the sale of put options for Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and Applied Materials Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>).
The trading activity of stocks and options by members of Congress continues to draw increased scrutiny, with potential conflicts of interest related to Congressional committees and the <a href="https://www.benzinga.com/topic/congress-trading">timing of trades made.</a>
The Adobe options are for a strike price of $500 and expiration date of Dec. 20, 2024. The filing indicates that four separate trades valued at $1,000 to $15,000 of Adobe options were made, <a href="https://www.quiverquant.com/congresstrading/politician/Tommy%20Tuberville-T000278">according </a>to Quiver Quant.
The Qualcomm options are for a strike price of $155 with an expiration date of Dec. 20, 2024. The transaction value of the trade was $15,000 to $50,000.
The Applied Materials options are for a strike price of $175 and an expiration date of Jan. 17, 2025. The transaction value of the trade was $1,000 to $15,000.
"BREAKING: Senator Tommy Tuberville is once again trading options," Unusual Whales <a href="https://twitter.com/unusual_whales/status/1780404471312396389">tweeted</a>. "He is literally trading companies which he legislates on, while having leveraged positions over them. Unusual."
The filing also showed the Alabama Republican once again bought shares of small biotech Humacyte Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>), with three transactions totaling amounts of $1,000 to $15,000; $1,000 to $15,000; and $15,000 to $50,000.
"BREAKING: Senator Tommy Tuberville has disclosed new purchase of Humacyte stock, $HUMA. It's a small biotech company that makes implantable human tissues. They've been testing their tech in Ukraine, treating combat injuries. Tuberville sits on the Armed Services Committee," Quiver Quant tweeted.
Congress Trades Create Conflict Of Interest Questions: <a href="https://www.benzinga.com/news/23/08/33880886/senators-perfect-timing-russian-war-linked-biotech-buy-raises-eyebrows-amid-trading-ban-debate">Benzinga previously shared</a> that trades involving Humacyte drew attention given the small-cap nature of the company and the fact that Tuberville serves on the Senate Armed Services Committee.
Humacyte collaborated with regulators, including the FDA in the U.S., to send its investigational HAV (Human Acellular Vessel) to Ukraine for humanitarian use.
The company said its HAV has been provided to hospitals in Ukraine and used to treat patients with critical injuries.
Tuberville has been <a href="https://www.benzinga.com/general/politics/24/03/37829749/senator-tommy-tubervilles-latest-2-stock-trades-attract-the-wrong-kind-of-attention-should-this-">flagged for unusual stock trading</a> in the past and remained one of the most active members of Congress buying and selling stocks and options.
A recent filing showed Tuberville buying stock in regional bank Southern States Bancshares Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSBK#NASDAQ">SSBK</a>). The CEO of the company is a donor to Tuberville's senate campaign.
A&nbsp;<a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9#sen-tommy-tuberville-a-republican-from-alabama-2" target="_blank" rel="noreferrer noopener">report&nbsp;</a>from Business Insider said Tuberville was late in disclosing around 130 stock trades from January to May 2021.
A <a href="https://www.nytimes.com/interactive/2022/09/13/us/politics/congress-stock-trading-investigation.html" target="_blank" rel="noreferrer noopener">report </a>from the New York Times highlighted Tuberville bought or sold stock and options in 17 companies that had business in front of Senate committees on which he served.
Read More: <a href="https://www.benzinga.com/general/education/24/03/37549908/dartmouth-basketball-team-may-change-the-ncaa-forever-this-will-absolutely-kill-college-sports-">Dartmouth Basketball Team May Change The NCAA Forever: &#8216;This Will Absolutely Kill College Sports&#8217; Senator Says</a>
Tuberville&#8217;s Congress Trades: Tuberville is no stranger to <a href="https://www.benzinga.com/topic/tommy-tuberville">buying and selling stocks</a> while a member of Congress. The senator is one of the most active traders and buys and sells options sometimes, as per his disclosures.
The senator recently <a href="https://www.benzinga.com/gov-trades/members/tommy-tuberville">disclosed </a>several stock transactions, which included buying $15,000 to $50,000 in shares of Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) and buying $15,000 to $50,000 in shares of Walgreens Boots Alliance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>).
Tuberville also disclosed selling shares of Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), CSX Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) and Texas Instruments Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>).
Related Link: <a href="https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list">10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)</a>
Photo: Shutterstock

Government

ADBE

AMAT

HUMA

PARA

PARAA

SSBK

Tommy Tuberville Trades Raise Eyebrows Again: Senator Sells Put Options, Buys Small Biotech Linked To Ukraine-Russia War

Financial giants have made a conspicuous bearish move on Qualcomm. Our analysis of options history for Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $96,595, and 7 were calls, valued at $321,965.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $140.0 to $200.0 for Qualcomm over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Qualcomm's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's whale trades within a strike price range from $140.0 to $200.0 in the last 30 days. 
<h3>Qualcomm Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713276988_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>QCOM</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/19/24</td>
<td>$11.2</td>
<td>$10.7</td>
<td>$10.95</td>
<td>$180.00</td>
<td>$65.7K</td>
<td>209</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$6.0</td>
<td>$5.9</td>
<td>$5.9</td>
<td>$200.00</td>
<td>$59.0K</td>
<td>1.6K</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$5.8</td>
<td>$5.75</td>
<td>$5.8</td>
<td>$200.00</td>
<td>$58.0K</td>
<td>1.6K</td>
<td style="text-align: right;">301</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$5.95</td>
<td>$5.9</td>
<td>$5.95</td>
<td>$200.00</td>
<td>$51.7K</td>
<td>1.6K</td>
<td style="text-align: right;">213</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$31.9</td>
<td>$31.3</td>
<td>$31.3</td>
<td>$140.00</td>
<td>$46.9K</td>
<td>3.4K</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Qualcomm</h3>
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Qualcomm's Current Market Status</h3>
<ul>
<li>With a trading volume of 622,114, the price of QCOM is down by -0.55%, reaching $168.91.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 15 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Qualcomm</h3>
In the last month, 4 experts released ratings on this stock with an average target price of $194.25.
<ul>
<li>Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Qualcomm, targeting a price of $205. </li>
<li>An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Qualcomm, which currently sits at a price target of $190. </li>
<li>Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to In-Line with a new price target of $177.</li>
<li>An analyst from Susquehanna persists with their Positive rating on Qualcomm, maintaining a target price of $205. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Qualcomm, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Check Out What Whales Are Doing With QCOM

Evercore ISI Group analyst Mark Lipacis initiates coverage on Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a In-Line rating and announces Price Target of $177.

Evercore ISI Group Initiates Coverage On Qualcomm with In-Line Rating, Announces Price Target of $177

Qualcomm's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NYSE">QCOM</a>) short percent of float has fallen 3.87% since its last report. The company recently reported that it has 19.41 million shares sold short, which is 1.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.1 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Qualcomm Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713190524_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Qualcomm has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Qualcomm's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Qualcomm's peer group average for short interest as a percentage of float is 4.41%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Looking Into Qualcomm's Recent Short Interest

The semiconductor industry continues to navigate the complex geopolitical landscape, with U.S. companies maintaining a significant presence in the Chinese market despite stringent export controls.
What Happened: China remains a critical market for U.S. semiconductor firms, even as the U.S. government intensifies efforts to limit China&#8217;s access to advanced chip technology, <a href="https://www.cnbc.com/2024/04/12/china-remains-a-crucial-market-for-us-chipmakers-amid-rising-tensions-.html">CNBC</a> reported on Friday.
Data from S&amp;P Global showed that since October 2022, the U.S. has enacted export controls, yet companies like Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), and Marvell Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) report greater revenues from China than from the U.S. These controls target AI-related chips but permit sales of most other chip types to Chinese entities.
U.S. chipmakers leverage their technological lead to serve the Chinese market, which consumes nearly half of the global semiconductors. Firms like Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) have developed modified AI chips for China to adhere to U.S. regulations.
See Also: <a href="https://www.benzinga.com/government/24/04/38155210/western-nations-may-face-10-trillion-defense-spending-surge-amid-russia-china-threat-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Western Nations May Face $10 Trillion Defense Spending Surge Amid Russia-China Threat: Report</a>
Following updates to U.S. export rules to tighten loopholes, companies like Nvidia are creating new China-specific chips. Intel continues to sell laptop processors to Huawei under a license granted by the previous administration, while AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) seeks a license for its AI chip amid regulatory challenges.
The Semiconductor Industry Association, with members including Intel, Qualcomm, and Nvidia, has urged for a de-escalation of tensions and a halt to further sanctions. Conversely, China has prohibited some U.S. chips and is advancing towards self-reliance in semiconductor production, with substantial subsidies for its domestic industry.
Despite these hurdles, U.S. firms maintain a lead in technology, with a three to five-year edge over Chinese counterparts in the AI GPU market. This edge is vital as China intensifies efforts to enhance its local GPU supply chain for specific sectors.
Why It Matters: China&#8217;s largest chipmaker, Semiconductor Manufacturing International Corp (SMIC), has produced more sophisticated chips despite U.S. sanctions <a href="https://www.benzinga.com/markets/asia/24/02/37063060/despite-us-sanctions-china-pushes-forward-in-advanced-chip-development-but-challenges-persist-report">but still faces significant obstacles </a>in achieving semiconductor self-sufficiency.
To support its AI startups, <a href="https://www.benzinga.com/news/24/03/37450125/no-chips-no-problem-china-is-dropping-cash-vouchers-worth-280k-to-ramp-up-its-ai-dreams">China has introduced &#8220;computing vouchers&#8221; </a>worth $280K to mitigate the impact of U.S. chip restrictions. 
The U.S. is set to <a href="https://www.benzinga.com/news/24/03/38001201/us-to-unveil-list-of-chinese-chip-factories-banned-from-receiving-key-tech-report">announce a list of Chinese chipmaking facilities</a> banned from receiving essential technology, a move that could significantly disrupt the global semiconductor landscape. China has <a href="https://www.benzinga.com/markets/asia/24/04/38024971/china-criticizes-us-chip-export-rules-impacting-nvidia-and-amd">expressed opposition to this</a> which impacts companies like Nvidia and AMD.
Read Next: <a href="https://www.benzinga.com/news/24/04/38180094/xi-jinping-met-former-taiwan-president-ma-ying-jeou-amid-rising-cross-strait-tensions?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Xi Jinping Met Former Taiwan President Ma Ying-Jeou Amid Rising Cross-Strait Tensions</a>
Photo via Shutterstock
<div style="font-family: 'Lato', sans-serif">
<div>
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>
</div>

General

MRVL

Despite US-China Tensions, Beijing Remains Crucial Market For Nvidia, Intel And Other American Chipmakers: Report

Semiconductors largely higher even as big tech sells off; Intel results on deck

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
In the wake of the recent, large drop in Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) stock, positive comments about the company by a top analyst who specializes in the chips space, strong quarterly financial results by the firm&rsquo;s main supplier, and Chinese entities&rsquo; <a href="https://investorplace.com/2024/04/nvda-stock-china-is-still-buying-top-nvidia-chips-despite-u-s-ban/">purchase of Nvidia&rsquo;s chips</a>, I&rsquo;ve become significantly more bullish on Nvidia stock. 



That&rsquo;s because I now believe that Nvidia&rsquo;s AI chips business is strong enough to thrive despite the increased competition that the firm is encountering, while the shares&rsquo; valuation provides a sufficient cushion against both this stepped-up competition and the likely, future downturn of cryptocurrencies.



As a result, I recommend that investors looking for exposure to a large, well-established firm at the heart of the AI revolution buy relatively small amounts of Nvidia stock. 



<h2>An Improved Valuation and Upbeat Comments by a Top Analyst</h2>



Nvidia stock declined 14% in the month that ended on April 21, and the shares were nearly 18% off their all-time high as of pre-market trading on April 23. As a result, the name now <a href="https://finance.yahoo.com/quote/NVDA/key-statistics">has a forward</a> price-earnings ratio of 33.11 times. With analysts, on a average, expecting the firm&rsquo;s earnings per share <a href="https://finance.yahoo.com/quote/NVDA/analysis">to jump</a> to $24.76 this year from $12.96 last year, the stock&rsquo;s P/E ratio is fairly low, given the chip maker&rsquo;s growth outlook.



Meanwhile, Stacy Rasgon, a well-respected chip analyst at investment bank Bernstein, <a href="https://www.investors.com/news/technology/ai-stocks-artificial-intelligence-nvidia-stock-analyst/">recently said that</a> NVDA is still benefiting from &ldquo;good &hellip; demand,&rdquo; while the firm does not appear to have experienced any &ldquo;order cancellations.&rdquo; Moreover, the sales of its recently increased products are growing, and its business is unlikely to experience a correction anytime soon, Rasgon said.



<h2>Powerful Results by Nvidia&rsquo;s Main Supplier and Chinese Purchases</h2>



Nvidia&rsquo;s main supplier, Taiwan Semi (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>), <a href="https://seekingalpha.com/news/4090797-taiwan-semiconductor-rises-after-q1-beat-upbeat-q2-outlook-on-ai-demand">reported strong</a> first-quarter results earlier this month as its revenue climbed 13% year over year and its net income jumped 9% versus the same period a year earlier. 



And more importantly, TSM expects its sales to surge 20% to 25% for the full year. Unsurprisingly, TSM <a href="https://www.cnbc.com/2024/04/18/tsmc-q1-2024-earnings-on-strong-ai-chip-demand.html">noted that</a> &ldquo;insatiable AI-related demand for energy efficient computing power,&rdquo; had driven its strong financial results and impressive guidance. Since Nvidia is the leading supplier of AI chips, it should benefit from the &ldquo;insatiable&rdquo; demand that TSM described.



On April 23, Reuters <a href="https://seekingalpha.com/news/4092264-china-tenders-nvidia-ai-chips-super-micro-dell-servers">reported that</a> &ldquo;Chinese research institutes&rdquo; had purchased Nvidia&rsquo;s top chips, despite restrictions that Washington had placed on the export of such chips. As a result, I believe that Nvidia&rsquo;s revenue from China will be higher than expected, increasing the likelihood that its Q1 results will meet or exceed Wall Street&rsquo;s average estimates.



Also <a href="https://investorplace.com/2024/04/morgan-stanley-just-raised-its-price-target-on-nvidia-nvda-stock/">noteworthy is that the</a> &ldquo;biggest cloud providers&rdquo; in America are reportedly poised to spend very large amounts of money on NVDA&rsquo;s chips.



<h2>Nvidia Is Still Facing Major Threats</h2>



As I noted <a href="https://investorplace.com/2024/04/nvidia-stocks-roller-coaster-buckle-up-for-short-term-bumps-long-term-thrills/">in a previous column</a>, Nvidia is facing major, competitive threats from a multitude of companies, including the major cloud providers themselves, Qualcomm (NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>), Intel (NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) and Advanced Micro Devices (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>). And there have been signs that the inventories of a number of its customers are starting to build. 



Over time, I believe that these factors are likely to put significant, downward pressure on the firm&rsquo;s average selling prices and margins.



Meanwhile, with Congress looking likely to pass a bill that <a href="https://investorplace.com/2024/04/crypto-carnage-why-robinhood-stock-is-headed-for-a-massive-plunge/">would force crypto</a> sellers to follow bank secrecy laws, I expect Nvidia&rsquo;s crypto business to come under significant pressure in the not-too-distant future.



<h2>The Bottom Line on Nvidia Stock</h2>



Nvidia&rsquo;s business still appears strong despite the increased threats that it&rsquo;s facing, while its valuation has dropped a great deal and appears to be attractive. Given these points, I have become more bullish on the shares but continue to view them as a cautious buy.



On the date of publication, Larry Ramer held a long position in INTC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/04/nvidias-ai-dominance-why-the-chip-giant-has-what-it-takes-to-weather-the-storm/">Nvidia's AI Dominance: Why the Chip Giant Has What It Takes to Weather the Storm</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Nvidia's AI Dominance: Why the Chip Giant Has What It Takes to Weather the Storm

O'Keefe Stevens Advisory Q1 2024 Investor Letter

Analysts have been eager to weigh in on the Technology sector with new ratings on Check Point (CHKP – Research Report), KLA (KLAC – Research Report...

Analysts' Opinions Are Mixed on These Technology Stocks: Check Point (CHKP), KLA (KLAC) and Qualcomm (QCOM)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The most obvious artificial intelligence processor play is, of course, Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) stock. Maybe you already have enough Nvidia shares. I encourage you to take a look at&nbsp;Qualcomm&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>). Right now, Qualcomm stock&nbsp;is definitely not over-valued and will soon have a chance to impress Wall Street.



That&rsquo;s because a major event is imminent &ndash; but more about that in a moment. Truly, Qualcomm&nbsp;is the AI-processor manufacturer not named Nvidia that&rsquo;s worth your attention and your capital in 2024.



<h2>An Analyst Puts Qualcomm on a &lsquo;Negative Catalyst&rsquo; List</h2>



Ladies and gentlemen, mark your calendars for May 1. That&rsquo;s when Qualcomm&nbsp;will report its earnings results for the second quarter of fiscal 2024.



I&rsquo;m betting on a beat, and here&rsquo;s why. Qualcomm&rsquo;s <a href="https://www.tipranks.com/stocks/qcom/earnings">track record</a> of quarterly EPS beats is absolutely stellar. Plus, Wall Street&rsquo;s expectations aren&rsquo;t very high this time around.



Analysts are looking for Qualcomm&nbsp;to report $2.32 per share. In the first quarter of fiscal 2024, the company did much better than that, having earned $2.75 per share.



Still, not every expert on Wall Street is highly optimistic. Interestingly, JPMorgan analyst Samik Chatterjee placed Qualcomm stock on his <a href="https://www.barrons.com/articles/qualcomm-stock-ai-earnings-guidance-817b3cf0">&ldquo;Negative Catalyst&rdquo;</a> watch list. Qualcomm



Chatterjee envisions Qualcomm generating $9.5 billion in Q2 FY2024 revenue, which would be higher than the midpoint of Qualcomm&rsquo;s guidance range and the analysts&rsquo; consensus estimate of $9.3 billion. 



Chatterjee also is concerned that Qualcomm&rsquo;s current-quarter revenue guidance will be roughly in line with Wall Street&rsquo;s call for $9.1 billion.&nbsp;



<h2>Qualcomm&rsquo;s Upcoming Earnings: A More Optimistic View</h2>



In contrast, Bernstein analyst Stacy Rasgon believes that Qualcomm &ldquo;can potentially take center stage with that narrative,&rdquo; referring to the expected growth of the AI-compatible processor market. 



Furthermore, Rasgon sees Qualcomm&rsquo;s new AI-hardware components as appearing to &ldquo;compete extremely favorably on multiple AI benchmarks relative to market alternatives.&rdquo;



All in all, Rasgon views Qualcomm&rsquo;s AI processors as &ldquo;holding a leadership position especially in the higher tiers in the market.&rdquo; With that in mind, Rasgon is clearly not anxious about Qualcomm as the earnings event approaches.



The Bernstein analyst even assigned an ambitious $200 price target to QCOM stock.



I should also mention that Qualcomm&nbsp;recently declared a <a href="https://finance.yahoo.com/news/qualcomm-announces-quarterly-cash-dividend-130000140.html">quarterly dividend</a> of 85 cents per share. So, Qualcomm offers prime processor-market exposure while also offering a passive-income opportunity.



Finally, Qualcomm&nbsp;is reasonably valued. The sector median&rsquo;s GAAP trailing 12-month price-to-earnings (P/E) ratio is <a href="https://seekingalpha.com/symbol/QCOM/valuation/metrics">27.12x</a>, but Qualcomm&rsquo;s P/E ratio is 23.44x. Just for comparison&rsquo;s sake, Nvidia&rsquo;s trailing P/E ratio is <a href="https://seekingalpha.com/symbol/NVDA/valuation/metrics">70.44x</a>.



<h2>Qualcomm Stock: Buy Before Earnings, Hold for Years</h2>



For prospective investors, everything just falls into place perfectly with Qualcomm; you&rsquo;ll get dividends, good value and an amazing earnings track record.



Sure, you can worry about Qualcomm&rsquo;s current-quarter revenue guidance being in line&nbsp;with Wall Street&rsquo;s expectations. Would that really be such a terrible thing, though?



Instead of being a worry wart, I invite you to get ready for a probable earnings beat on May 1. In anticipation of this &ndash; and just because Qualcomm is a reasonably valued AI-hardware firm. Feel free to pick up some Qualcomm stock shares today.



On the date of publication, David Moadel&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>David Moadel has provided compelling content &ndash; and crossed the occasional line &ndash; on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/04/forget-nvidia-qualcomm-stock-is-the-ai-play-to-make-especially-before-may-1/">Forget Nvidia. Qualcomm Stock Is the AI Play to Make. Especially Before May 1!</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Forget Nvidia. Qualcomm Stock Is the AI Play to Make. Especially Before May 1!

SMH: Correction In Semiconductor Stocks Presents A Gift Not To Be Missed

Mobileye sinks as Morgan Stanley downgrades, citing 'slowdown' in EV adoption

More than half of the S&P 500 names that reported results this week beat top and bottom line - Earnings Scorecard

16 out of 20 information technology stocks deliver EPS wins this week: Earnings Scorecard

Catalyst Watch: Apple earnings, Viking IPO, Chinese EV deliveries and Russell indices' Rank Day

ABBV

ADTH

ALPN

AMGN

AMKBF

AMKBY

AMKR

AMZN

ANVS

ASML

ASMLF

BKNG

BKRIF

BLKB

BLOZF

BYND

CHGG

CHKP

COIN

COTY

CVNA

DASH

EBAY

EXPI

FTNT

KOPN

LIND

LMND

MCBC

MDLZ

MODN

MSTR

NCLH

NXPI

OCUL

PRTS

PTON

PYPL

RIOT

ROKU

SBUX

SGMT

SHEL

SLAB

SRRK

SWKS

TEAM

TSLA

TSMWF

XFOR

XPEV

Press Releases

Qualcomm Earnings Release Available on Company's Investor Relations Website

Opinion

Thinking about trading options or stock in Align Technology, Microsoft, Qualcomm, C3.ai, or Walmart?

Small Cap

Thinking about buying stock in Psyence Biomedical, Micron Technology, Conservative Broadcast Media Journalism, Qualcomm, or Cibus?

Thinking about trading options or stock in Advanced Micro Devices, Qualcomm, Applied Materials, Meta Platforms, or NiSource?

Thinking about trading options or stock in Taiwan Semiconductor, Microsoft, Tesla, Meta, or Qualcomm?

Qualcomm Increases Quarterly Cash Dividend

Qualcomm Announces Quarterly Cash Dividend

Qualcomm Schedules Second Quarter Fiscal 2024 Earnings Release and Conference Call

Vuzix Corporation (NASDAQ: VUZI) Revolutionizing the Supply Chain with AR and Strategic Partnerships

Harnessing AR in Logistics: Vuzix's (NASDAQ: VUZI) Smart Glasses Revolutionize Warehouse Operations

ADSK

ALGN

CBMJ

CBUS

ENVX

IMMR

MVIS

RBLX

SNAP

SONY

VUZI

Analog Devices

Astera Labs

Advanced Micro Devices, Inc. - Common Stock

Advanced Micro Devices

Arm Holdings plc - American Depositary Shares

ARM Holdings

ASE Technology Holding Co., Ltd. American Depositary Shares (each representing Two Common Shares)

ASE Tech Holding Co

Broadcom

First Solar

GLOBALFOUNDRIES