By Leo Sun, The Motley Fool
Publication Date: 2026-10-11 16:50:00
The mobile chipmaker is struggling to keep up with its higher-growth peers.
Key Points
Qualcomm’s focus on local AI processing chips limits its growth potential.
It still doesn’t look cheap compared to Nvidia and Broadcom.
Qualcomm(NASDAQ: QCOM) isn’t often mentioned in the same breath as AI leaders like Nvidia(NASDAQ: NVDA) and Broadcom(NASDAQ: AVGO). It’s one of the world’s largest mobile chipmakers. Still, its AI-oriented chips haven’t attracted nearly as much attention as Nvidia’s data center GPUs or Broadcom’s custom AI accelerators for hyperscalers.
Qualcomm’s stock has still risen 40% over the past five years, but shares of Nvidia and Broadcom have rallied about 1,000% and 630%, respectively. However, Qualcomm still doesn’t look cheap relative to those AI leaders for three simple reasons.
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