Qualcomm Jumps 5% as Amazon AI Chip Deal Opens Data-Center Growth Path

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Qualcomm shares rose 5% on Tuesday after StoneX analyst Cody Acree reiterated a Buy rating and $270 price target, pointing to the chipmaker's expansion into data-center silicon as a growth avenue beyond smartphones. The call follows Qualcomm's recent collaboration with Amazon on customized AI silicon and high-speed optical connectivity for data centers. Qualcomm expects its data-center business to generate about $5 billion in fiscal 2027 revenue and more than $15 billion by fiscal 2029, with total non-handset revenue projected at $40 billion by fiscal 2029 across automotive, IoT and other markets. The diversification push comes as Qualcomm's handset business faces pressure, with fiscal third-quarter handset revenue falling 20% year over year to $5.09 billion. Acree expects non-handset operations to become a larger contributor to Qualcomm's semiconductor business, shifting investor focus toward execution in newer markets.

Impact on stocks 3

Semiconductors▲ · 1 stocks
Qualcomm Incorporated
QCOM
▲ PositiveCapitalDemandrelevance

StoneX analyst reiterated a Buy rating and $270 price target, citing Qualcomm's data-center expansion as a growth avenue.

Artificial Intelligence▲ · 1 stocks
Amazon.com Inc
AMZN
± MixedDemandrelevance

Amazon's collaboration with Qualcomm on customized AI silicon is mentioned as context, but the article does not detail Amazon's own benefit or terms.

Digital Finance & Tokenization▲ · 1 stocks

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