QCOM - QUALCOMM Incorporated
Qualcomm's handset business is shrinking while its automotive and data center ambitions are scaling fast, and the tension between those two forces will determine whether the stock revisits its highs or stalls out entirely.
Advanced Micro Devices is rapidly expanding its data center presence through strategic AI partnerships and infrastructure acquisitions. Qualcomm is diversifying its revenue streams by shifting focus from mobile handsets to automotive and AI-native data centers.
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Qualcomm began shipping its Centriq server processor in November 2017 and had all but dismantled the effort by the end of 2018. Amazon's new agreement ties warrant vesting to binding purchase orders and up to $60 billion in purchases through 2036.
Qualcomm is rated Buy and Marvell, Hold, as QCOM offers superior risk-adjusted upside despite MRVL's stronger current AI business. QCOM's valuation allows for margin and execution misses, with a $298 FY2029 price target (69% upside), while MRVL's price already assumes near-flawless execution. MRVL's $120B Google opportunity is not committed backlog; revenue timing, margin structure, and dilution from warrants are critical uncertainties.
Piper Sandler is drawing a clear line between two semiconductor stocks, recommending Advanced Micro Devices (AMD) while taking a more cautious stance on Qualcom
ASML Holding N.V. ASML and Qualcomm Incorporated QCOM are two premier semiconductor firms focusing on AI (artificial intelligence), advanced chip technologies and the data center semiconductor ecosystem.
AlphaGrep UK Ltd cut its position in Qualcomm Incorporated (NASDAQ: QCOM) by 89.3% in the undefined quarter, according to its most recent disclosure with the SEC. The fund owned 1,210 shares of the wireless technology company's stock after selling 10,102 shares during the period. AlphaGrep UK Ltd's holdings in Qualcomm were worth $224,000
Baird Financial Group Inc. lessened its position in shares of Qualcomm Incorporated (NASDAQ: QCOM) by 32.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,924 shares of the wireless technology company's stock after selling 211,990 shares during
Qualcomm's growing influence in AI chips, as evident from its recent contract wins, is likely to translate into stronger growth for the company. The company's valuation is attractive right now, which could pave the way for a nice surge in its stock price over the next three years.
Investors continue to seek disciplined strategies to participate in the evolving artificial intelligence (AI) economy without paying inflated multiples for standard graphics hardware. Capital remains focused on businesses positioned to sustain steady enterprise workload expansion while maintaining reasonable valuation metrics.
Jim Cramer called Qualcomm's latest partnership deal "something special" for a stock that has been treading water, but whether Wall Street agrees depends on a series of execution checkpoints that begin this December.
Qualcomm is working to expand its non-handset business and capture some of the growing data center market. Its deal with Amazon comes after signing Meta Platforms as its first data center customer.
Nvidia stock was slipping after Qualcomm's announcement of an AI infrastructure deal with Amazon.
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Qualcomm is rated Strong Buy, with current weakness seen as a long-term buying opportunity amid data center AI breakthroughs. QCOM's data center revenue is expected to scale from 2027, with Meta as a key anchor client and robust validation processes underway. Shares trade at a forward P/E of 16, pricing in only the stagnating mobile business; future data center and robotics growth is not reflected.
Qualcomm President and CEO Cristiano Amon is not a morning person, so the meetings that decide the most get scheduled last, when nothing has to end on time. Ryan Patel spent a day with Amon at Qualcomm's San Diego campus: a ride in the 1973 Bronco he rebuilt, thirty minutes inside an all-hands where his own employees pushed back on the company's bets, and a walk through the 6G and robotics labs.
Corning and Qualcomm popped on Tuesday, and lifted other companies tied to the AI infrastructure trade, including Intel and Advanced Micro Devices. Qualcomm announced a partnership with Amazon that included issuing $4 billion in stock warrants to the cloud provider.