Jim Lebenthal Qualcomm QCOM-Q HOLD Sep 11, 2023

He bought more. 14x forward PE and pays a 2.3% dividend yield. Good value. The ARM lawsuit was an overhang, but now resolved in QCOM's favour. This and the semis saw momentum in the first half of 2024. Business fundamentals remain intact; only QCOM can serve certain AI applications. Likes it for the long run.

Trades at 12.5x PE, trades at a 41% discount to semi sector, and they've done a good job moving into EVs.

Plays nicely into Edge AI. Out of favour, surprising. Still a major supplier into the smartphone market. Follows it, but is waiting for a catalyst.

Laggard in the group, and no sign that's changing. In fact, making an RSI new low today versus the market. When you're in a bull market, you want to own stocks that are participating. Unable to make a higher high since June 2024.

Key enabler of all kinds of mobile connectivity, which still drives 75% of revenue. Fundamentals rank 9/10. Upside of about 11%. June quarter was solid with 10% revenue growth. Potential opportunity if margins hold up. Apple's shift to its own chips will be gradual.

It is losing Apple's business but there have been contentious issues with them over the years and there are lots of other great things going on. It has a big business with the Android smart phone, which is much bigger than Apple was. Also it has built out a lot of business in the automotive sector and Meta Ray-Ban glasses. It is getting into data centres with chips for laptops that can help batteries last longer. AI will need better hardware and Qualcomm can enable that. Trades at 12X earnings which is at a big discount to the market.          Buy 24  Hold 20 Sell 1

Are diversifying well away from cell phones to the internet of things and cars (double-digit growth in both). But their smartphone business underwhelms. That said, shares are too cheap. They need to increase share buybacks.

Owned it in the past. QCOM is cheap in this sector, but are tied to the handset market and that market lacks growth. Also, is bearish to semis and prefers software.

Very linked to AAPL and the smartphone market. A lot of those companies are starting to do chips in-house. Dirt cheap, but there's a reason for that. Other opportunities elsewhere.

Held back by focus on handset market, which hasn't grown in last number of years. Company is moving away from that -- getting into internet of things, automotive, autonomous driving. So its chips have application in new technology areas. Trades at 13x PE, much cheaper than peers. Yield is 2.16%.