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 a 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.”

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.

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.