Qualcomm Inc ( QCOM ) shares have declined 4.6% over the past week to $139.74, even after the company delivered second-quarter results that exceeded Wall Street expectations.

What To Know: The chipmaker reported revenue of $10.84 billion, marking a 15% increase from the same period last year, while non-GAAP earnings per share rose 17% to $2.85.

Both metrics topped analyst forecasts, continuing Qualcomm's ( QCOM ) streak of beating revenue estimates for eight consecutive quarters and EPS estimates for seven.

The growth was largely fueled by the company's QCT segment. Handset revenue climbed 12% to $6.93 billion, Internet of Things (IoT) revenue jumped 27% to $1.58 billion, and automotive sales soared 59% to $959 million.

Licensing revenue held steady. CEO Cristiano Amon pointed to strong performance across key markets and emphasized the company's focus on diversifying its portfolio.

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What Else: Looking ahead, Qualcomm ( QCOM ) expects third-quarter revenue in the range of $9.9 billion to $10.7 billion, with EPS projected between $2.60 and $2.80—figures generally in line with consensus estimates.

Despite the upbeat report, investor sentiment was mixed. While firms like Rosenblatt and Benchmark maintained Buy ratings, the latter trimmed its price target, citing concerns over slowing handset demand and broader economic headwinds.

Analysts in general remain optimistic about Qualcomm's ( QCOM ) long-term prospects, particularly in its fast-growing IoT and automotive segments, bolstered by upcoming launches from partners like Samsung and solid momentum in China's premium Android market.

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How To Buy QCOM Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Qualcomm’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, QCOM has a 52-week high of $230.63 and a 52-week low of $120.80.