Qualcomm Incorporated (NASDAQ: QCOM) remains one of the most important players in wireless chips, powering smartphones, automotive systems, and connected devices. The stock has held up well, but growth has cooled compared to earlier years, and it looks like analysts are divided on the outlook.
This article reviews where Wall Street expects Qualcomm could trade by 2027. We’ve compiled consensus targets, valuation assumptions, and recent performance trends to get a sense of the stock’s possible trajectory. These figures reflect current analyst models and are not TIKR’s own predictions.
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Analyst Price Targets Suggest Modest Upside
Qualcomm trades at about $162/share today. The average analyst price target is around $178/share, which points to roughly 10% upside. Forecasts cover a wide range, showing that sentiment is divided:
- High estimate: ~$225/share
- Low estimate: ~$140/share
- Ratings: 12 Buys, 5 Outperforms, 18 Holds, 2 Sells
It looks like analysts see some room for gains, but conviction appears weak given the broad spread of targets. For investors, the takeaway is that Qualcomm may deliver only modest returns unless new growth drivers like automotive and IoT chips begin to scale meaningfully.
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Qualcomm: Growth Outlook and Valuation
The company’s fundamentals appear steady, though not especially aggressive:
- Revenue growth forecast: ~6% annually through 2027
- Operating margins: ~34%
- Dividend yield: ~2.2% with a ~33% payout ratio
- Current multiples: ~14x forward earnings and ~11x EV/EBITDA
- Based on analysts’ average estimates, TIKR’s Guided Valuation Model using a 14x forward P/E suggests ~$190/share by 2027
That would imply about 18% total upside or ~8% annualized returns. For investors, this suggests Qualcomm may be best seen as a stable compounder that generates consistent cash flow and dividends, rather than a rapid-growth stock. Upside looks moderate unless new businesses outperform expectations.
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What’s Driving the Optimism?
Qualcomm is pushing into new markets that could help offset slowing smartphone demand. Automotive chips, edge AI, and 5G infrastructure are all areas where the company appears to be gaining traction. These businesses may not be as large as mobile yet, but they represent meaningful growth opportunities.
The company also has a strong balance sheet and consistent cash flow, which allows it to keep paying dividends and buying back shares. This stability adds confidence that Qualcomm can keep rewarding shareholders while investing in new markets. For investors, the bull case is that these growth drivers scale faster than expected, helping Qualcomm deliver stronger returns than the current ~6% revenue forecast suggests.
Bear Case: Dependence on Smartphones
Even with diversification efforts, Qualcomm still leans heavily on handsets for revenue. The smartphone market looks mature, with upgrade cycles stretching longer and pricing pressure from competitors weighing on margins. If demand stays weak, growth could undershoot forecasts.
Another concern is that rivals in automotive and AI chips may move quickly, limiting Qualcomm’s ability to expand outside of phones. For investors, the risk is that Qualcomm remains tied to a slow-growth core business, which could cap upside and leave the stock trading closer to the low end of analyst expectations.
Outlook for 2027: What Could Qualcomm Be Worth?
Based on analysts’ average estimates, Qualcomm could trade near $190/share by 2027. That would represent about 18% upside from today’s level, or ~8% annualized returns. The forecast assumes revenue grows around 6% annually and operating margins hold near 34%.
While this represents healthy performance, it already builds in a fair amount of stability. To deliver stronger upside, Qualcomm would likely need faster adoption of its automotive and AI chips or an unexpected rebound in smartphone demand. Without that, returns may remain steady but unspectacular.
For investors, Qualcomm looks like a dependable dividend payer with moderate growth, but the path to outsized returns depends on the company proving it can thrive beyond smartphones.
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