Qualcomm (QCOM) stock has fallen 6.0% over the past week, dropped 7.1% in the last month, and is down 15.9% over the past year. Wall Street’s analysts are moderately bullish, forecasting a move toward a 12‑month average price target of $162.29, above the last close of $129.82.
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Despite the weak recent performance, the Moderate Buy consensus suggests many experts still see upside in Qualcomm’s semiconductor and wireless business. However, the gap between the current price and the average target also reflects differing views on how the company will navigate a tougher market.
One of the most bearish voices is Jay Goldberg of Seaport Research Partners, who downgraded Qualcomm to Sell on March 16, 2026, setting a price target of $100.00. That target implies meaningful downside from current levels and stands well below the broader Street forecast.
Goldberg argues that a memory crunch will hit Qualcomm’s customers particularly hard and that the company looks set to lose market share while its total addressable market shrinks this year. In his view, these pressures could weigh on Qualcomm’s revenue potential and justify a more cautious stance on the stock.
According to TipRanks, this analyst ranks 10,422 out of 12,068, with a 23.53% success rate and an average return of -8.40% per rating. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.