In the latest trading session, Qualcomm (QCOM) closed at $184.79, marking a -2.08% move from the previous day.
ByteDance is aiming to complete the design of a new in-house central processing unit (CPU) by early next year at the latest, with plans for mass production and wider deployment in the second half of 2027, according to a South China Morning Post report citing people familiar with the matter. The TikTok parent company is developing the chip to support its expanding artificial intelligence infrastructure as it seeks greater control over core computing hardware, the SCMP report said.
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Zacks.com users have recently been watching Qualcomm (QCOM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The semiconductor sector is notorious for punishing cyclicality. When global smartphone shipments stall or supply chains bottleneck, legacy chipmakers often bear the brunt of market anxiety.
Shares of Qualcomm Inc NASDAQ: QCOM are trading just above $200 this week, continuing to consolidate above that key psychological level, which they took so long to crack.
Our Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) price prediction sits well above where the sell side has landed, and that gap is the entire story.
As Qualcomm, Inc. (NASDAQ: QCOM) stock dropped to a two-month low, Wall Street analysts have signaled bullish sentiment toward Qualcomm stock over the next 12 months.
Qualcomm unveiled major AI infrastructure products and raised non-handset FY29 revenue targets to $40B, signaling a transformative growth phase. The wireless chip company raised its non-handset FY29 revenue target to $40B, with $15B+ from Data Center contracts with hyperscalers and Automotive guidance up 25% to $10B. Management targets FY29 EPS above $18 and envisions scaling total revenue toward $100B, while maintaining robust free cash flow and capital return flexibility.
Artificial intelligence is rapidly shifting from the cloud to the devices we use every day.
Qualcomm's strategic acquisitions enable their vertically integrated CPU, GPU, interconnect, and software capabilities, positioning it as a future AI powerhouse beyond legacy handset markets. These have contributed to the management's promising FY2029 guidance of $40B in non-handset revenues (expanding at a 4Y CAGR of +39.4%) and adj. EPS of over $18. Despite the recent breakout, QCOM remains compelling at a P/E of 18.34x and a 4Y PEG of 1.35x, while offering significant upside potential to my LTPT of $330.10.
Cristiano Amon walked into Qualcomm's (NASDAQ:QCOM | QCOM Price Prediction) Investor Day on June 24, 2026 with a number designed to be repeated.