"Qualcomm's automotive segment posted $1.101 billion in Q1 FY2026, up 15% year over year - its second consecutive quarter above $1 billion. This represents a durable, multi-year revenue stream tied to the global EV and ADAS buildout."
"Goldman Sachs analyst James Schneider initiated coverage with a Neutral rating and a $135 price target - offering just 4% upside from the initiation price and sitting well below the broader analyst consensus."
"While non-Apple QCT revenues grew 18% year over year in fiscal 2025, the stock has shed significant ground as the market prices in the Apple headwind."
Qualcomm's stock has faced a challenging period, with shares down 25.81% year to date and 16.45% over the past year. Analysts have a consensus target of $155.67, with Goldman Sachs initiating coverage at a Neutral rating and a $135 price target. Despite growth in automotive and data center segments, share losses from key customers like Apple have raised concerns. The automotive segment showed a 15% year-over-year increase, while the data center expansion aims to capitalize on infrastructure spending.
Read at 24/7 Wall St.
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