Wall Street analysts have issued a cautious outlook on Qualcomm (NASDAQ: QCOM) stock over the next 12 months as the equity experiences one of its sharpest recent selloffs.
Notably, QCOM shares plunged more than 11% on Tuesday, closing at $210 after falling to an intraday low near $202 on heavy trading volume.
The decline followed a massive rally that saw the stock surge roughly 70% in about a month, climbing from the $140 to $150 range in early April to a peak of $247 on May 11.
The selloff was largely driven by profit-taking after the extended rally, which had been fueled by optimism surrounding Qualcomm’s expansion into AI data center chips and a major hyperscaler partnership announced in late April. Broader weakness across semiconductor stocks also added pressure.
Concerns over Qualcomm’s core handset business further weighed on sentiment, with ongoing challenges tied to memory supply constraints, rising component costs, and weak Android smartphone demand, particularly in China.
Despite the sharp drop, Qualcomm continues to diversify beyond smartphones, supported by growth in its automotive segment and emerging AI infrastructure opportunities.
The company is expected to provide additional updates on its AI and data center strategy during its investor day in June.
Analysts take on QCOM stock
Regarding the stock’s outlook, data compiled from 31 analysts by TipRanks shows Qualcomm holds a consensus ‘Hold’ rating. Among the analysts, nine recommend buying the stock, 18 suggest holding, while four maintain sell ratings.
The average 12-month price target for Qualcomm stands at $177.22, implying a potential downside of 15.73% from the stock’s latest price of $210.31.
The highest target issued for Qualcomm is $300, signaling strong upside potential if business conditions improve, while the lowest forecast stands at $100, highlighting bearish expectations from some analysts.
Among the analysts, Ivan Feinseth of Tigress Financial Partners maintained a ‘Buy’ rating on Qualcomm while raising the stock’s price target to $280, citing strong second-quarter 2026 results, growth in AI, automotive, and IoT businesses, and the company’s expanding shareholder returns through dividends and a new $20 billion share buyback program.
Meanwhile, DZ Bank analyst Ingo Wermann downgraded Qualcomm stock from ‘Buy’ to ‘Hold’ on May 8, 2026, while setting a $195 price target, citing a more cautious outlook despite the company posting strong earnings and the stock recovering from its earlier decline.
Louis Miscioscia of Daiwa also upgraded the stock to ‘Outperform’ from ‘Neutral’ and lifted its price target to $225 from $140, citing Qualcomm’s growing AI data center opportunity despite mixed fiscal Q2 results.
Earlier, on May 1, Baird boosted its price target on Qualcomm to $300 from $177 and reiterated an ‘Outperform’ rating following the company’s fiscal Q1 earnings.
