Qualcomm stock (NASDAQ: QCOM) is up around 32% since the beginning of this year, but at the current price around $115 per share, we believe that Qualcomm stock could see significant downside.
Why is that? Our belief stems from the fact that Qualcomm stock has jumped almost 2x from the low seen at the end of 2017. Our dashboard What Factors Drove 96% Change In Qualcomm Stock Between 2017 And Now? provides the key numbers behind our thinking, and we explain more below.
Qualcomm is a major mobile chipset manufacturer and a market leader in wireless technology, providing solutions to all leading smartphone manufacturers. The stock rise over the past two years came due to a 9% growth in revenue, which