Baird Qualcomm · QCOM

Baird Lowers Qualcomm Price Target to $320

Analyst: Tristan Gerra 1 min read Reproduced verbatim
Rating
Outperform
Target
$320
from $400 (−20%)
Upside
+85%
QCOM at $173 today
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What the analyst said

Baird analyst Tristan Gerra lowered the price target on Qualcomm (NASDAQ: QCOM) to $320 (from $400) while maintaining an Outperform rating.

“Meaningful revenue diversification is undeniably well underway: AI-related ramp began with a reiteration of revenue targets, limited by supply which addressed could bring upside, while Automotive annualized revenue run rate exiting F2026 was raised $1B, inferring about 50% YoY growth in F2026.

We continue to see rapidly improving company-specific fundamentals, with new unannounced customers and advanced engagements in AI encompassing custom ASICs, AI250, and Oryon CPUs with a line of sight extending through F2029.

Agentic AI opportunities are not priced in, in our view. Outperform-rated.”

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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.

Where the price stands

QCOM trades at $173. The 13 analysts who set a target in the last 3 months range from $150 to $320, with a median of $190. This $320 target is 68% above the median, the highest on the Street.

12-month window: day 0 of 365, closes on November 5, 2027.

Track record

This callOpen: a 12-month target, scored on November 5, 2027, a year after the note.

Firm track recordBaird: 90% of its 30 targets at least a year old were reached within 12 months (#1 of 26 firms). Accuracy ranking →

Baird on Qualcomm

Baird price targets on Qualcomm

5 calls from February 5, 2026 to November 5, 2026. The target went from $177 to $320 (+81%). The rating stayed Buy.

Baird targetQCOM share price
  1. November 5, 2026 This noteTarget cut from $400 (−20%)Buy$320
  2. October 8, 2026Kept the $400 targetBuy$400
  3. July 30, 2026Target raised from $300 (+33%)Buy$400
  4. April 30, 2026Target raised from $177 (+69%)Buy$300
  5. February 5, 2026Earliest call shownBuy$177
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Other analysts on Qualcomm

Morgan StanleyHold Cut price target −10%, kept rating Nov 5 $197from $220 JP MorganHold Cut price target −7%, kept rating Nov 5 $200from $215 RosenblattBuy Cut price target −13%, kept rating Nov 5 $205from $235 SusquehannaHold Cut price target −11%, kept rating Nov 5 $165from $185 BarclaysSell Cut price target −17%, kept rating Nov 5 $150from $180
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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.