Prediction: Analysts Say Qualcomm Stock Is Set For A Massive Breakout

Qualcomm has recovered 51.2% from its March low to around $195, and a proprietary model projects additional upside. A 12-month price target of $268.83 implies 37.43% upside from about $195.61, with 90% confidence tied to data center and automotive growth. Recent Q2 FY26 results showed revenue of $10.60 billion and non-GAAP EPS of $2.65 versus $2.56 consensus. Automotive revenue reached a record $1.33 billion, up 38% year over year, while IoT grew 9% and handsets declined 13% due to memory supply constraints. The Alphawave Semi acquisition expands the data center market, and a $20 billion buyback authorization plus a quarterly dividend support capital returns. Risks include handset weakness, China concentration, and potential Apple modem progress.

"Qualcomm is up 43.62% over the past month and 30.25% over the past year, though shares pulled back 6.99% last week and sit 29% below the 52-week high of $247.90. Q2 FY26 results, reported in late April, beat on both lines: revenue of $10.60 billion and non-GAAP EPS of $2.65 against a $2.56 consensus. The headline metric was the diversification story. Automotive revenue hit a record $1.33 billion (+38% YoY), IoT grew 9%, and handsets fell 13% on memory supply constraints across Chinese OEMs."

"The 24/7 Wall St. price target for Qualcomm is $268.83 over the next 12 months, implying 37.43% upside from $195.61. Our model carries a 90% confidence level on this target, reflecting the data center and automotive growth thesis. Bulls argue the forward P/E of 19x on a company posting 38% automotive growth is too cheap. The Alphawave Semi acquisition, completed in Q1 FY26, opens the data center TAM, and the June 24 Investor Day on Data Center and Physical AI could be a re-rating catalyst."

"Our bull case scenario projects $278.61 within 12 months, a 42.43% return. A new $20 billion buyback authorization plus the $0.89 quarterly dividend reinforces the capital return story. CEO Cristiano Amon also confirmed that the company's "leading hyperscaler custom silicon engagement is on track for initial shipments later this calendar year." The case centers on continued momentum in automotive and expansion in data center opportunities."

"The consensus Wall Street analyst target sits at just $175.97, well below our target and current price, with 22 hold ratings versus 11 buys. Bears point to handset weakness, China concentration, and the risk Apple completes its mod"

Read at 24/7 Wall St.