Key Stats for Qualcomm Stock
- Price change for Qualcomm stock: 12%
- $QCOM Share Price as of May. 22: $238
- 52-Week High: $248
- $QCOM Stock Price Target: $178
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What Happened?
Qualcomm (QCOM) stock jumped 12% on Friday and is now up 78% over the past month. The stock hit a record high. Several things drove the move.
- First, Qualcomm’s latest earnings showed its automotive business growing 38% year-over-year to $1.3 billion. That’s a record.
- The company also confirmed it will start shipping data center chips to a major hyperscaler later this year — a business that didn’t exist for Qualcomm until recently.
- Then came the Stellantis deal. The automaker announced it will use Qualcomm’s Snapdragon chips across its entire vehicle lineup — for cockpit, connectivity, and driver-assist systems.
- Stellantis owns Jeep, Dodge, Fiat, Chrysler, Alfa Romeo, and Maserati. That’s a huge footprint.
Qualcomm has now struck similar deals with BMW, Bosch, Volkswagen, and Hyundai. Over 1 million cars already run their autonomous systems on Qualcomm processors.
And separately, reports emerged that OpenAI is partnering with Qualcomm to build an AI chip for a next-generation device powered by AI agents.
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What the Market Is Telling Us About Qualcomm Stock
Wall Street is finally pricing in what Qualcomm has been building toward for years.
- The company isn’t just a smartphone chip maker anymore.
- It powers Microsoft Surface PCs, Google and Meta smart glasses, cars, robots, and, soon, data centers.
- Its energy-efficient Arm-based chips are well-suited for AI that runs on devices — not in the cloud.
Analyst Ivan Feinseth at Tigress Financial Partners, who rates Qualcomm stock a buy, put it simply: “This company will be back in its former glory and will lead the connected device revolution.”
The near-term story isn’t perfect.
- Qualcomm stock faces a headwind from Chinese smartphone makers pulling back on chip orders due to memory supply issues.
- The company expects that to bottom out next quarter.
- Apple is also expected to reduce its reliance on Qualcomm chips in upcoming iPhones.
But those concerns are getting overshadowed by the bigger picture. Qualcomm stock is climbing because investors see a company with its hands in nearly every major hardware trend — autos, edge AI, PCs, wearables, and now data centers.
More details are expected at Computex on June 2 and Qualcomm’s investor day on June 24. Both could be major catalysts.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
