Qualcomm (QCOM - Get Report) is a designer and manufacturer of digital communications products. It has been given a buy rating by UBS Investment Research, primarily due to the increase in demand for Qualcomm's Snapdragon processors. With the increase in usage of LTE, bigger displays and thinner phones, Qualcomm's processors are experiencing a rise in demand. UBS does not expect the company's competitive position to be jolted despite the increase in discrete application processors offered by Intel and NVIDIA. Shares of Qualcomm are currently trading at $58 per share and are expected to reach a price target of $70, indicating a potential upside of 20%.
Qualcomm is one of the most popular stocks among hedge funds. Qualcomm introduced its new Snapdragon S4 processor for powering Windows 8 tablet devices. We expect an increase in demand for Qualcomm's processors. We are bullish about QCOM.
>>To see these stocks in action, visit the 7 UBS Stock Picks for 2012 portfolio on Stockpickr.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts