As Qualcomm, Inc. (NASDAQ: QCOM) shares fell over 9% over the last five days amid its earnings report, more than a dozen Wall Street analysts issued ratings for this semiconductor stock on July 30.
On Thursday, 14 Wall Street analysts shared their QCOM stock 12-month forecast, according to data analyzed by Finbold. Earlier today, Tristan Gerra, an analyst from Baird, maintained an ‘Outperform’ rating for Qualcomm stock.
Gerra raised the firm’s 12-month price target for QCOM shares to $400 from $300, thereby representing a 33.33% raise. With QCOM stock price trading at around $146.72 at press time, this analyst suggests 172.6% upside.
Baird expects Qualcomm to benefit from its reduced dependence on Apple Inc. (NASDAQ: AAPL), since the move broadens its revenue. Furthermore, the firm believes data center revenue could reach $5 billion in fiscal 2027, making up nearly 11% of total revenue.
Meanwhile, the analyst projected that AI-powered smartphones could fuel the next major handset upgrade cycle starting in 2028.
QCOM stock forecast for 12 months
On Thursday, Sajal Dogra, a senior researcher covering semiconductors and hardware at Rosenblatt Securities, reiterated a ‘Buy’ rating for QCOM stock. However, Dogra lowered the firm’s 12-month price target for Qualcomm to $235 from $265.
James Schneider, a Wall Street analyst at Goldman Sachs Group Inc. (NYSE: GS), assigned a ‘Hold’ rating for QCOM shares. Schneider also lowered his 12-month price target to $160 from $180.
Joseph Moore, an analyst at Morgan Stanley (NYSE: MS), assigned a ‘Hold’ rating on Qualcomm shares. Additionally, Moore reduced the bank’s 12-month price target for this chip maker to $220 from $231.
Joshua Buchalter, an expert at TD Cowen, initiated coverage for QCOM with a ‘Buy’ rating. Buchalter, however, reduced the firm’s 12-month price target to $175 from $225.
Cody Acree, a Wall Street analyst at Benchmark, reiterated a ‘Buy’ rating for this stock. He lowered his 12-month target to $270 from $300.
Thomas O’Malley from Barclays PLC (NYSE: BCS) maintained a ‘Sell’ rating on QCOM shares. O’Malley lowered his 12-month price target to $180 from $245.
Other analysts who issued a ‘Hold’ rating include Timothy Arcuri from UBS, Atif Malik from Citigroup Inc. (NYSE: C), Mark Lipacis at Evercore ISI, Christopher Rolland at Susquehanna, John Vinh from KeyBanc, Stacy Rasgon from Bernstein, and Srini Pajjuri at RBC Capital.
As such, 25 analysts surveyed by TipRanks have set an average 12-month price target for QCOM stock at $204.33, representing a potential 36.33% upside.
