BofA Securities Raises Qualcomm Price Target to $195

BofA Securities analyst Vivek Arya raised the price target on Qualcomm (NASDAQ: QCOM) to $195.00 (from $165.00) while maintaining an Underperform rating.

“QCOM’s Investor Day on Wednesday (June 24th) is expected to provide more detail on QCOM’s data center opportunity as they diversify away from handsets toward a broader AI compute platform spanning edge, auto/IoT, and data center.

We expect a near-term ($2-$5bn by FY27/28E) and a longer-term addressable opportunity across agentic server CPU, decode-specific (Groq-like) AI accelerators, and a wider opportunity in edge/ physical AI.

The goal of course is to showcase that by the end of the decade, QCOM could derive the majority of its sales from non-smartphone segments including datacenter/AI, autos and edge AI/IoT.

We raise our PO to $195 from $165 (rolling forward to CY28 estimates), but maintain Underperform since we believe QCOM is re-entering (has attempted data-center entry multiple times prior) a fast-growing but hyper competitive AI market full of large incumbents including (NVDA, AVGO, AMD, MRVL, Cerebras, ARM AGI CPU, other custom chip options incl Amazon Graviton, Google Axion etc.”

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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.