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San Diego, California-based QUALCOMM Incorporated (QCOM) is a leading global semiconductor and wireless technology company that develops chips and software powering smartphones, connected devices, automobiles, industrial equipment, and Internet of Things (IoT) applications. It is valued at a market cap of $171.7 billion.
Qualcomm has been left behind in the semiconductor rally. While AI-fueled chip stocks have powered the broader sector higher, shares of QCOM have declined 4% over the past year, trailing the S&P 500 Index’s ($SPX) 14.8% surge. The gap has widened in 2026, with the stock down 9% year to date compared to the benchmark's 6.9% advance.
