Early Bird Prime for April 5, 2026

Qualcomm $QCOM ( ▼ 0.38% ), the tech giant that has been the darling of the smartphone world, is now having a bit of a rough patch. Despite flaunting solid financials, the stock has taken a nosedive of 26.70% this year. The culprits? Weak smartphone market demand, tight memory supply constraints, and increased competition.

Just when you thought things couldn't get murkier, along comes Goldman Sachs this past week with a Neutral rating and a $135 price target, adding more fog to the already cloudy picture. The analysts at Goldman are patting Qualcomm on the back for its revenue diversification plans, which include ventures into automotive, PCs, and data centers. But here’s the problem: Apple $AAPL ( ▲ 0.11% ) is planning to ditch Qualcomm by Fall 2027, opting to build more of its own chips.

Apple's decision to go solo could shrink Qualcomm's revenue fast. With a significant chunk of its revenue still tied to smartphones, any hiccup in demand or supply can hit Qualcomm's results hard. It's a classic case of putting too many eggs in one basket, and then realizing the basket has a hole.

But fear not, for Qualcomm is not one to sit idly by. The company has evolved from being just a smartphone-chip story to a multi-talented performer with gigs in automotive, industrial IoT, wearables, PCs, and even robotics and AI infrastructure. Qualcomm is diversifying fast.

Should you buy Qualcomm's stock right now in 2026 or avoid it? Here’s the answer…