Summary

• Qualcomm's shift towards AI and automotive markets is underappreciated, with its Snapdragon X2 chipset driving AI PC adoption and automotive growth.
• The QCT division contributed $10.6B in Q1 FY 2026, driven by demand in IoT and automotive, proving Qualcomm’s diversification into high-growth sectors.
• Qualcomm’s Snapdragon X2 offers 80-85 TOPS performance with 24 TOPS per watt, making it a power-efficient leader in AI inference for real-time applications.
• Qualcomm’s valuation remains 44% below industry peers, presenting a significant opportunity for re-rating as AI and automotive growth accelerate.

The price of Qualcomm (QCOM) shares has been a paradox for me during the past months. Despite the excellent fundamentals, diversity of growth prospects, and good track record of innovation, Qualcomm is undervalued due to its future

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