Qualcomm Rated Buy With $239.79 Target on AI and Automotive Push

AnalystEarningsM&A · Partnership
โดย 24/7 Wall St.·US·Read original
Summary · why it matters

24/7 Wall St. rates Qualcomm a buy with a $239.79 price target, implying 35.45% upside from the current $176.88 quote, at 90% model confidence. The call rests on Qualcomm's Q3 FY26 revenue of $9.947 billion, which beat consensus, and automotive revenue that grew 61% year over year to $1.588 billion, its 23rd consecutive double-digit growth quarter, even as non-GAAP EPS of $2.21 narrowly missed on memory and wafer input costs. Momentum accelerated after Qualcomm issued warrants to Amazon to acquire $4 billion worth of the chipmaker's stock as part of an AI infrastructure deal, and CEO Cristiano Amon has committed to more than $24 billion in revenue across automotive and IoT plus more than $15 billion in data center by fiscal 2029, nearly doubling the prior target. The bear case lands near $200.49, with handset revenue down 20% in the third quarter and management expecting roughly a 50% decline in Apple revenue from the September to December quarter, while memory and wafer inflation compressed operating income by 41.13% year over year. Broadcom, the aspirational benchmark, posted $29.591 billion in Q3 FY26 revenue with AI semiconductor sales of $16.7 billion, up 221% year over year, and carries a $1.72 trillion market cap versus Qualcomm's $188.9 billion.

Impact on stocks 5

Artificial Intelligence± Mixed · 3 stocks
Amazon.com Inc
AMZN
▲ PositiveCapitalrelevance

Amazon received warrants to acquire $4 billion worth of Qualcomm stock as part of an AI infrastructure deal.

Apple Inc.
AAPL
▼ NegativeDemandrelevance

Qualcomm management expects roughly a 50% decline in Apple revenue from the September to December quarter, signaling reduced Apple purchases of Qualcomm chips.

Broadcom Inc
AVGO
± Mixedrelevance

Broadcom is cited only as an aspirational benchmark with its Q3 FY26 revenue and AI semiconductor sales, not as a subject of the news.

Semiconductors▲ · 2 stocks
Qualcomm Incorporated
QCOM
▲ PositiveCapitalDemandrelevance

24/7 Wall St. rates Qualcomm a buy with a $239.79 price target, citing Q3 FY26 revenue beat and automotive growth.

Theme Impact 6

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