Qualcomm shares surged after earnings but now trade at a premium with handset revenue declining and Q3 guidance showing sequential revenue drops. The company is expanding beyond handsets into automotive and data centers, with a major hyperscaler deal expected in late 2026. Despite strong growth in automotive and IoT, handset weakness and cautious Chinese OEMs pressure near-term results. Investors are advised to wait for a pullback toward $185 for a better entry, watching upcoming Q3 results and hyperscaler updates for clearer risk-reward signals.
Qualcomm has been upgraded to a buy rating due to its strategic shift towards data centers and a growing automotive segment, which are expected to drive future revenue growth. The company aims to double its non-handset revenue to $40 billion by fisca...
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