Qualcomm Bears Could Be Missing a Major Rebound

21 hours ago 2

Vandita Jadeja

Fri, May 15, 2026 astatine 9:22 AM CDT 4 min read

Quick Read

Qualcomm (QCOM) surged 50.62% from its March trough to $200.08 and delivered its 4th consecutive net bushed with Q2 gross of $10.6B driven by grounds Automotive maturation of 38% to $1.326B and IoT enlargement of 9%, portion absorption confirmed hyperscaler customized silicon shipments arriving aboriginal successful 2026.
Qualcomm’s diversification distant from handsets into automotive, IoT, and information halfway customized silicon positions the institution for a 34.55% summation to $269 wrong 12 months arsenic expert statement lags down hyperscaler engagement not yet reflected successful statement pricing.
The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Qualcomm wasn't 1 of them. Get them present FREE.

Qualcomm (NASDAQ:QCOM) has staged 1 of the astir melodramatic semiconductor rebounds of 2026, ripping 50.62% disconnected its March trough successful astir a month. Yet Reddit sentiment remains negative, and Wall Street's statement terms people sits good beneath existent levels. Our exemplary suggests bears are looking the incorrect direction.

Our 24/7 Wall St. Price Target for Qualcomm Is $269

Qualcomm trades astatine $200.08. Our 24/7 Wall St. terms people is $269.21 implicit the adjacent 12 months, implying 34.55% upside. Recommendation: Buy with 90% confidence.

Metric

Value

Current Price	$200.08
24/7 Wall St. Price Target	$269.21
Upside	34.55%
Recommendation	BUY
Confidence Level	90%

From $129 Trough to $200 successful Eight Weeks

Qualcomm bottomed astatine $129.39 successful March 2026 earlier snapping backmost hard. The banal is up 17.73% twelvemonth to day and 33.85% implicit 1 year, though shares slipped 6.14% successful the astir caller league connected broader chipmaker profit-taking. Qualcomm sits 29% beneath its 52-week precocious of $247.90.

The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Qualcomm wasn't 1 of them. Get them present FREE.

The Q2 FY26 study connected April 29, 2026 delivered the 4th consecutive beat: gross of $10.599 cardinal and non-GAAP EPS of $2.65. Handsets fell 13% connected representation proviso constraints, but Automotive deed a grounds $1.326 cardinal (up 38%) and IoT roseate 9%. CEO Cristiano Amon confirmed the "leading hyperscaler customized silicon engagement is connected way for archetypal shipments aboriginal this calendar year."

Why Bulls See a Breakout Above $279

The bull lawsuit targets $279.21, a 39.55% return. Diversification is working: combined Automotive and IoT gross reached $3.052 cardinal past quarter, and non-Apple QCT revenues grew 18% successful FY2025. The June 24, 2026 Investor Day connected Data Center and Physical AI is simply a discrete catalyst. Alphawave Semi acquisition closed successful Q1.

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