Quick Read
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QCOM trades at $182 with a BUY rating and 24/7 Wall St. price target of $226, implying 24% upside over 12 months.
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NVDA and AVGO posted AI revenue gains of 117% and 221% respectively, yet both trade at lower forward multiples than Qualcomm’s 19x.
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Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Qualcomm didn’t make the cut. Enter your email to see the names that beat QCOM. The report is free. Enter your email and see if any of your stocks made the cut.
Qualcomm (NASDAQ:QCOM) is trading at $181.51. The 24/7 Wall St. price target for Qualcomm is $225.91 over the next 12 months, indicating 24.46% upside. This wins the stock a buy rating with high confidence from the model.
24/7 Wall St. Price Target Summary
Most AI money is concentrated in GPU leaders, but Qualcomm is about to start booking data center revenue. Management says two custom silicon wins with global-scale hyperscalers should start generating revenue in the December quarter, and wafer production for both is already underway.
The data center targets are $5 billion in fiscal 2027 and $15 billion in fiscal 2029. That is a real AI growth story attached to a stock that pays a 1.93% dividend (we featured seven other suppliers powering the AI data-center expansion, from power to cooling, in a free report here).
A Monthly Pullback Ahead of the Fiscal Q4 Report
Over the past week the stock gained 3.3%. That followed a 10.13% slide over the past month. Shares are up 7.79% year to date and sit inside a 52-week range of $120.88 to $257.56.
In fiscal Q3, revenue came in at $9.95B, ahead of the $9.67B consensus. Non-GAAP EPS of $2.21 came in just short of the $2.22 estimate, which ended a six-quarter beat run. Handsets fell 20% while automotive rose 61%.
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Recent headlines have been positive. Qualcomm announced a trial verdict win on October 13, declared its quarterly dividend and scheduled its fiscal Q4 report. Guidance for that quarter calls for revenue of $9.70B to $10.50B and non-GAAP EPS of $2.05 to $2.25.
