Buy the Dip: Qualcomm’s Handset Slump vs. an Emerging Data‑Center Upside
Qualcomm is dealing with persistent handset weakness that will keep near‑term results muted, but its pivot into data‑center and non‑handset businesses (targeting $40B by 2029) sets up a potential fundamental re‑rating in fiscal 2027. Valuation is reasonable today (P/E ~19, market cap ~ $172B) and free cash flow remains healthy. This trade targets a…