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Qualcomm stock seen rising nearly 39% as automotive and data center growth offset handset declines.

Analyst Insights
12 Aug 2026
24/7 Wall Street
View Source
Bullish
Qualcomm stock seen rising nearly 39% as automotive and data center growth offset handset declines.

Qualcomm is trading at $162.68 with a 24/7 Wall St. price target of $226.08, implying nearly 39% upside in the next year. Despite a recent 14% drop and handset revenue falling 20% due to China inventory issues, the company’s automotive segment grew 61%, and new data center deals are set to start shipping by December 2026. The CEO projects non-handset revenues to nearly double by 2029, driven by automotive and AI-related growth. Risks include rising costs and Apple reducing modem use, but the stock’s current valuation appears undervalued given its growth potential.

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Qualcomm jumps 7% after AI interconnect demo expands its market beyond smartphones.

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Qualcomm stock falls 6% amid profit-taking despite broader chip sector gains

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