Benchmark Reiterates Buy on Qualcomm, $300 PT

Benchmark analyst Cody Acree reiterated a Buy rating and $300.00 price target on Qualcomm (NASDAQ: QCOM).

“We recently had the opportunity to host Brett Simpson, Qualcomm’s new SVP and Head of IR and JD Magdaleno, VP of IR for a group investor fireside chat, which we believe was particularly useful as it separated the company’s data-center opportunity into an immediate revenue bridge, a medium-term product roadmap and a still-unproven but potentially disruptive memory architecture.

The message was incremental to last week’s Analyst Day: the FY27 data-center target appears anchored by purchase orders, wafers in fab and two custom hyperscale engagements, while HBC, Modular and Alphawave now define the quality of the FY28-FY29 opportunity.”

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