Qualcomm is shifting focus from its shrinking handset business to rapidly growing data center and automotive markets, aiming for $40 billion in non-handset revenue by fiscal 2029, up from $22 billion. The company expects non-handset growth to accelerate from 24% in fiscal 2026 to over 60% in fiscal 2027, driven by new deals in data center custom silicon and automotive contracts like BMW's ADAS. Despite recent stock pullbacks and margin pressures from Apple’s revenue decline and higher costs, analysts see potential upside with a 24/7 Wall St. price target of $218.04, implying an 18.44% gain. Execution of data center shipments and price increases will be key to Qualcomm’s transformation and stock performance.
Qualcomm’s stock is trading at USD 185.90 on Pluang as of Oct 05, 2026 20:02 WIB, which is closer to its 52-week low of USD 124.07 than its 52-week high of USD 251.10, showing room for potential growth if its transformation succeeds. The stock’s 1-day gain of 0.56% contrasts with the recent pullbacks mentioned in the article, while its market cap stands at $194.48 billion. This positioning highlights the market’s cautious optimism as Qualcomm shifts focus to data centers and automotive sectors.
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