Bernstein Qualcomm · QCOM

Bernstein Reiterates Market Perform on Qualcomm, $165 Price Target

Analyst: Stacy Rasgon 1 min read Reproduced verbatim
Rating
Market Perform
Unchanged
Target
$165
from $235 (−30%)
Outcome
Reached
on October 30, 2026
Bernstein and Qualcomm logos

What the analyst said

Bernstein SocGen Group analyst Stacy Rasgon reiterated a Market Perform rating and $165 price target on Qualcomm (NASDAQ: QCOM).

“This morning Qualcomm announced a ‘multi-generational product collaboration with Amazon’ to build next-gen AI datacenter infrastructure including customized silicon for inference and optical connectivity solutions, and will deepen their own use of AWS AI infrastructure.

In a subsequent 8K Qualcomm also announced a 25M warrant grant to Amazon.

The warrants have an exercise price of $161.26/share (so already in the money as of Friday’s close) and will vest in tranches tied to meeting conditions including product and services purchases by Amazon, up to a maximum of $60B over the next 10 years (the warrants expire Sept 2036).”

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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 $164. The 9 analysts who set a target in the last 3 months range from $155 to $400, with a median of $185. This $165 target is 11% below the median.

Since the note QCOM has moved −6% (from $174). 12-month window: day 55 of 365, closes on September 9, 2027.

Track record

This call✓ Target reached on October 30, 2026, 2 months after the note.

Firm track recordBernstein: 79% of its 24 targets at least a year old were reached within 12 months (#13 of 26 firms). Accuracy ranking →

Bernstein on Qualcomm

Bernstein price targets on Qualcomm

7 calls from February 2, 2026 to November 2, 2026. The target went from $200 to $155 (−23%). The rating moved from Buy to Hold.

Bernstein targetQCOM share price
  1. November 2, 2026Target cut from $165 (−6%)Hold$155
  2. September 25, 2026Kept the $165 targetHold$165
  3. September 9, 2026 This noteTarget cut from $235 (−30%)Hold$165
  4. June 25, 2026Target raised from $140 (+68%)Hold$235
  5. March 26, 2026Downgraded to Hold, target cut from $175 (−20%)Hold$140
  6. February 5, 2026Target cut from $200 (−13%)Buy$175
  7. February 2, 2026Earliest call shownBuy$200
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Other analysts on Qualcomm

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 StoneXBuy Kept rating and price target Sep 15 $270maintained
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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.