Qualcomm Inc
QCOM: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$114.00 | Rnzkl | Nmmwkyb |
Qualcomm: Supply Agreement With Apple Doesn’t Alter Our Long-Term Valuation
We maintain our $140 fair value estimate for narrow-moat Qualcomm as the company announced a chip supply agreement with Apple that extends the timeline in which Qualcomm will be the primary 5G modem supplier into future iPhones. Shares are up about 4% on the news, but we still view Qualcomm as fundamentally undervalued.