Prediction: This Chipmaker Could Be a Bigger Winner Than Investors Think

4 days ago 3

Vandita Jadeja

Wed, August 12, 2026 astatine 9:30 AM CDT 5 min read

Quick Read

QCOM trades astatine $163 with a $226 terms target, backed by 61% automotive maturation and hyperscaler information halfway shipments launching successful December 2026.
QCOM trades astatine 16x guardant net versus Broadcom's 23x, adjacent arsenic CEO Amon targets $40 cardinal successful non-handset gross by 2029.
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Qualcomm (NASDAQ:QCOM) has spent astir of 2026 warring a communicative that its handset concern is simply a dilatory leak. The marketplace is missing what is softly gathering underneath: Automotive is compounding astatine a grounds pace, a hyperscaler information halfway engagement is astir to ship, and the banal trades astatine a guardant aggregate that looks thing similar the maturation illustration absorption laid retired astatine its Investor Day.

A close-up changeable of a greenish circuit committee with disposable intricate metallic traces and assorted physics components, bathed successful a brushed blue-green light. Overlaid connected the circuit committee is simply a translucent achromatic enactment graph showing an upward trend, accompanied by a bid of bluish and greenish barroom charts besides indicating growth. The inheritance is softly blurred with bokeh lights.

Qualcomm trades astatine $162.68 arsenic of August 11, 2026. Our 24/7 Wall St. terms people for Qualcomm is $226.08, implying 38.97% upside implicit the adjacent 12 months. Our proposal is bargain with a 90% assurance level.

24/7 Wall St. Price Target Summary

A Rough Month, a Better Setup

QCOM is down 14% implicit the past period and disconnected 3.91% twelvemonth to date, though up 12.26% implicit the past year. Shares beryllium 25% beneath the 52-week precocious of $258.96.

Fiscal Q3 gross of $9.947 cardinal bushed estimates by 2.84%, but non-GAAP EPS of $2.21 missed by 0.49%, snapping a six-quarter bushed streak. Handsets fell 20% YoY connected China memory-driven inventory drawdowns, portion Automotive grew 61% and IoT roseate 9%. The Modular acquisition closed connected August 7, adding an AI-native bundle foundation.

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Why Bulls See a Breakout Ahead

The bull lawsuit rests connected the non-handset pivot. CEO Cristiano Amon told investors "total non-handset revenues increasing to $40 cardinal by fiscal 2029, astir treble the people we shared successful November 2024", with maturation accelerating from 24% successful fiscal 2026 to greater than 60% successful fiscal 2027.

Automotive has posted 23 consecutive quarters of double-digit growth, anchored by the caller BMW semipermanent proviso deal. The hyperscaler information halfway engagement, built connected the Alphawave Semi and Modular acquisitions, is connected way for archetypal shipments successful December 2026. In a bull scenario, QCOM could scope $243.71 wrong 12 months, astir 50% upside.

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