Qualcomm’s AI Pivot Ignites Stunning Stock Surge

Qualcomm ( (QCOM) ) has risen by 30.12%. Read on to learn why.

Qualcomm shares have rocketed 30.12% over the past week, extending a powerful rally that has already transformed the chipmaker into one of the standout performers in the semiconductor sector. The surge comes even as Wall Street’s overall stance remains cautious, with a Hold consensus and average 12‑month price targets still sitting below the current share price. Investors appear to be looking past near-term weakness in the company’s core handset business and instead focusing on Qualcomm’s broader transformation story.

A growing group of influential analysts is helping fuel the bullish narrative. Tigress Financial’s Ivan Feinseth sees Qualcomm evolving from a traditional mobile-chip leader into an “intelligent connectivity” powerhouse, pointing to strong momentum in AI-centric devices, automotive platforms, and the Internet of Things, all supported by a fresh $20 billion share buyback. Daiwa’s Louis Miscioscia argues that Qualcomm could be the next big semiconductor name to enjoy a rerating as investors revalue its role in AI, noting upcoming data center CPU revenue from a major cloud provider and highlighting that the stock still trades at a discount to peers despite these new growth drivers.

At the same time, Susquehanna’s Christopher Rolland underscores that the story is not without risks. Qualcomm continues to face short-term pressure from falling handset revenue, supply-chain issues, and weaker low-end smartphone demand, and several analysts’ base-case price targets still imply downside from current levels. However, the combination of accelerating automotive and IoT sales, looming AI-related data center and custom silicon deals, and the prospect of “agentic” smartphones and CPUs has convinced many investors that Qualcomm is at a strategic inflection point—one that may justify the stock’s rapid 30.12% move higher over the last week.