Qualcomm clears fresh AI revenue targets, shares react to DZ Bank upgrade

By Julia Schmitt, Sector & Peer Group desk. Reviewed prior to publication on 2026-06-26, 16:14.

Qualcomm Incorporated (US7475251036) is drawing renewed attention on NASDAQ after the company outlined aggressive long-term AI data center revenue targets and received a fresh analyst upgrade to Buy from DZ Bank. The combination of new guidance and an improved rating frames today’s picture for the shares, which trade under the ticker QCOM in the S&P 500 index.

What the new AI targets signal

In recent investor presentations, Qualcomm management described AI data centers as the group’s next growth engine, pointing to a targeted revenue contribution of more than 15 billion US dollars by fiscal year 2029. The company highlighted Meta Platforms and Microsoft as early anchor customers for new server-class processors, underpinning the ambition with named hyperscale deals. According to market commentary on Nasdaq’s portal, investors welcomed the stronger long-term forecast, which marks a clear expansion beyond Qualcomm’s traditional handset-focused business.

Reports on Robinhood’s news pages note that Qualcomm’s diversification push includes next-generation CPUs and accelerators for cloud and edge AI workloads, with management indicating that the data center line could generate “billions” in annual revenue from the fiscal year beginning October. This strategy complements the existing Snapdragon portfolio for smartphones and PCs, aiming to position Qualcomm more directly against established data center chip players such as Nvidia and AMD.

DZ Bank and peers adjust their stance

Analyst sentiment has shifted in parallel with the new AI narrative. Data compiled by StockAnalysis and Finviz shows that DZ Bank upgraded Qualcomm from Hold to Buy with a price target of 265 US dollars, published today. In late June, Morgan Stanley also lifted its view on the stock, moving from Underweight to Equal-Weight and setting a price target of 231 US dollars, while Barclays raised its target to 245 US dollars earlier in the second quarter. Consensus snapshots on several platforms now describe the overall rating profile as leaning toward Buy or Overweight, with blended price targets implying mid-single-digit to low-double-digit upside from current levels over the next 12 to 24 months.

German-language coverage on Finanzen100 highlights that Wells Fargo sees further potential for Qualcomm after the recent Investor Day, arguing that new long-term objectives strengthen the company’s AI story in the server segment. The same outlet points to competitive pressure in the server CPU market, but underscores Qualcomm’s strategic partnership with Meta for next-generation processors as a differentiating factor relative to other mobile-chip peers.

The business behind the AI push

Qualcomm’s AI data center ambition builds on its broader portfolio of connectivity and processing solutions. Historically, the company has derived the bulk of its revenue from selling Snapdragon application processors and modem chipsets to smartphone manufacturers, as well as licensing its extensive portfolio of wireless patents to handset makers worldwide. With the new guidance, management seeks to increase the share of revenue from infrastructure and cloud segments, where contract cycles are longer but deal sizes can be meaningfully larger than individual handset orders.

In parallel to the data center focus, Qualcomm continues to develop Snapdragon X Elite and X Plus platforms for Windows on Arm PCs, targeting AI-enhanced workloads such as Copilot+ features and on-device inference. OEM partners including Lenovo and Dell have recently presented new notebook models based on these chips, citing improved performance per watt and battery life for AI-heavy use cases in enterprise and consumer markets. This dual-track approach - PCs at the edge and CPUs in the data center - is intended to create a more integrated AI ecosystem around Qualcomm’s architecture.

Where the Qualcomm shares trade today

Qualcomm shares (US7475251036) trade on NASDAQ under the ticker QCOM. As of 2026-06-26, 09:50 Eastern time, recent quotes on financial portals show the stock at around 203.83 US dollars, with an intraday range between approximately 199.88 and 205.10 US dollars.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. All data and assessments are based on sources cited in the text and may change over time.