Qualcomm (QCOM) stock has risen 20.6% over the past week, 41.1% in the last month, and 35.9% over the past year. Wall Street’s analysts are neutral, with a Hold consensus and a 12‑month average price target of $164.62, implying downside from the last closing price of $179.58.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Top analyst Christopher Rolland of Susquehanna reiterated his Hold rating on QCOM on April 30, 2026, while lifting his price target from $140 to $160. That new target also signals potential downside from current levels, even as he acknowledges upside risk to as high as $225 if execution and valuation assumptions improve.
Rolland points to short‑term headwinds from handset weakness, with Qualcomm guiding handset revenue to about $4.9 billion in June, a roughly 17.5% quarter‑over‑quarter decline after a 23% drop in the prior quarter. The pressure stems from a memory shortage and reduced build plans from major Chinese smartphone makers, along with weaker low‑end handset demand.
At the same time, he highlights more promising longer‑term drivers in automotive, IoT, and data center AI. Auto revenue hit another record quarter and is expected to exit fiscal 2027 at a run rate above $6 billion, while IoT is forecast to grow at a high single‑digit rate year over year in June, supported by broader Snapdragon platform adoption.
On the AI front, management has teased a multi‑generational custom silicon deal with a large cloud provider, with shipments expected to begin in the fourth quarter. Rolland, ranked 34th out of 12,160 analysts on TipRanks with a 65.54% success rate and 38.1% average return per rating, plans to reassess after Qualcomm’s upcoming Investor Day, where more details on AI and “agentic” smartphones and CPUs are expected. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.