AMAT vs QCOM: Which Is the Better Buy?
Side-by-side comparison of Applied Materials, Inc. and QUALCOMM Incorporated — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-07-06.
Applied Materials, Inc. · Technology
$603.04
-45.0% upside to fair value
Grade C
High Quality
VS
QUALCOMM Incorporated · Technology
$226.11
-10.7% upside to fair value
Grade D
High Quality
QuantHub Verdict
QCOM has more upside to fair value
(-10.7%).
QCOM trades at a lower forward P/E
(24.3x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
QCOM |
| Current Price |
$603.04 |
$226.11 |
| Fair Value Estimate |
$331.67 |
$201.84 |
| Upside to Fair Value |
-45.0%
|
-10.7%
|
| Market Cap |
$478.8B |
$238.3B |
| Forward P/E |
56.4x
|
24.3x
|
| EV / EBITDA |
43.0x
|
17.5x
|
| Price / Sales |
16.5x
|
5.4x
|
| Price / FCF |
80.3x
|
19.1x
|
| Revenue Growth YoY |
+11.4%
|
-3.5%
|
| Gross Margin |
49.0%
|
54.8%
|
| Operating Margin |
29.5%
|
25.5%
|
| Return on Equity |
39.8%
|
40.2%
|
| Dividend Yield |
0% |
0% |
| FCF Yield |
1.25%
|
5.25%
|
| Analyst Consensus |
Strong Buy
|
Hold
|
Investment Thesis
Applied Materials, Inc. is a leading semiconductor equipment company with a strong competitive moat in multiple wafer fab equipment segments, driven by its scale, infrastructure, and technology leadership in AI-critical process steps. The company benefits from a seasoned management team led by CEO Gary Dickerson, who has over 12 years at the helm and a track record of strong revenue and profitabi…
Qualcomm Incorporated is a leading semiconductor and telecommunications equipment company specializing in cellular and RF technologies, with a strong competitive moat driven by its intellectual property and scale in premium Android and 5G modems. The company benefits from a long-tenured management team and a diversified business model expanding into automotive, IoT, and computing sectors. Despite…
Accumulation Zones
| Metric |
AMAT |
QCOM |
| Zone Low |
$248.75 |
$151.38 |
| Zone High |
$281.92 |
$171.56 |
| In Buy Zone? |
No
|
No
|