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Wall Street predicts Qualcomm stock price for next 12 months

Wall Street predicts Qualcomm stock price for next 12 months

Since 2024 started, Qualcomm (NASDAQ: QCOM) has done much to expand and position itself as best it can to continue benefiting from the ongoing artificial intelligence (AI) boom. 

Indeed, the company, best known for designing, producing, and licensing semiconductors for mobile devices and telecommunications, has recently started getting involved with the automotive industry and computing markets.

Qualcomm has also done much to expand and extend its strategic partnerships and has entered into crucial long-term agreements for licensing its technology and products with giants such as Apple (NASDAQ: AAPL) and Samsung (KRX: 005930).

So far, the company’s actions have been well-reflected in the stock market, and QCOM shares are up as much as 48.15% this year, and, at the time of publication, boast a price of $207.75.

QCOM stock YTD price chart. Source: Finbold

Analysts set QCOM price in 12 months

While Qualcomm has managed to grow significantly since 2024 – both in the stock market and with its business – analysts are, as it turns out, only cautiously optimistic when it comes to the firm’s performance in the coming 12 months.

Out of the 28 experts represented on the stock analysis platform TipRanks, 19 recommend buying the stock, while 8 are ‘neutral’ about its prospects. Finally, one major institution – Wells Fargo (NYSE: WFC) – considers selling QCOM stock the right call.

The price targets for Qualcomm shares are likewise cautious, and the overall forecast, should it come to fruition, would, in fact, represent a 4.29% drop to $195.29 for the company from its press time price of $207.75.

QCOM analyst price target for the coming 12 months. Source: TipRanks

Despite this, QCOM has no shortage of bulls, and some of the most recent price target revisions are the most optimistic. 

As things stand, Bank of America (NYSE: BAC) altered its forecast for Qualcomm on May 31 from the previous 12-month estimate of $180 to a significantly higher $245 per share.

On the other side of the spectrum. Wells Fargo, the only major institution recommending the selling of the stock, is also responsible for the lowest price target of $140 – which was assigned in February 2024.

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