Based on the latest data from August 2025, QCOM is trading at $160.73, positioning the stock in the "Value" zone between the 9.4x PE multiple ($98.87) and 16.1x PE multiple ($168.30). This indicates that QCOM is trading at approximately 16.0x earnings, suggesting the stock offers investment value at current levels. The stock price is well above the undervalued threshold but remains below the fair valuation upper boundary, representing an attractive entry point for investors seeking quality growth at reasonable valuations. Analyzing the historical trend over the past five years, QCOM's valuation has experienced significant fluctuations across different PE bands. The stock reached extreme overvaluation in mid-2024, peaking at $204.80 in June 2024, which placed it in the "Watch" zone near 16.1x PE multiples. From this peak, the stock has undergone a notable valuation compression, declining approximately 21% to current levels. The most dramatic valuation expansion occurred during 2020-2021, when QCOM moved from trading below 9.4x PE in early 2020 to consistently trading above 16.1x PE throughout 2021-2022. The PE river boundaries themselves have shown an upward trend over time, indicating improving earnings growth, with the 9.4x PE boundary expanding from around $33.57 in early 2020 to $98.87 currently. This upward trajectory of the PE bands suggests QCOM has demonstrated consistent earnings growth, making the current valuation in the Value zone particularly attractive for long-term investors.