Wells Fargo Qualcomm · QCOM

Wells Fargo Upgrades Qualcomm to Equal Weight

Analyst: Aaron Rakers 1 min read Reproduced verbatim
Rating
Equal Weight
from Underweight
Target
$150
from $135 (+11%)
Outcome
Reached
on April 27, 2026
Wells Fargo and Qualcomm logos

What the analyst said

Wells Fargo analyst Aaron Rakers upgraded Qualcomm (NASDAQ: QCOM) from Underweight to Equal Weight with a price target of $150.00 (from $135.00).

“We think QCOM’s upcoming data center strategy detail and / or partnership announcements have potential to drive a sentiment shift; see $5-$7B/yr revenue oppty.

(CY27+) with participation in $100B+ AI inference TAM. Upgrade to EW, $150 PT (was $135).”

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The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

QCOM trades at $163. The 9 analysts who set a target in the last 3 months range from $155 to $400, with a median of $185. This $150 target is 19% below the median, the lowest on the Street.

Since the note QCOM has moved +16% (from $140). 12-month window: day 252 of 365, closes on February 24, 2027.

Track record

This call✓ Target reached on April 27, 2026, 2 months after the note.

Firm track recordWells Fargo: 65% of its 34 targets at least a year old were reached within 12 months (#22 of 26 firms). Accuracy ranking →

Wells Fargo on Qualcomm

Wells Fargo price targets on Qualcomm

6 calls from February 5, 2026 to July 30, 2026. The target went from $135 to $170 (+26%). The rating moved from Sell to Hold.

Wells Fargo targetQCOM share price
  1. July 30, 2026Target cut from $265 (−36%)Hold$170
  2. June 25, 2026Target raised from $230 (+15%)Hold$265
  3. June 12, 2026Target raised from $160 (+44%)Hold$230
  4. April 30, 2026Target raised from $150 (+7%)Hold$160
  5. February 24, 2026 This noteUpgraded to Hold, target raised from $135 (+11%)Hold$150
  6. February 5, 2026Earliest call shownSell$135
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Other analysts on Qualcomm

BernsteinHold Cut price target −6%, kept rating Nov 2 $155from $165 StoneXBuy Kept rating and price target Nov 2 $270maintained SusquehannaHold Raised price target +16%, kept rating Oct 21 $185from $160 TD CowenBuy Raised price target +14%, kept rating Oct 19 $200from $175 BairdBuy Kept rating and price target Oct 8 $400maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.