Rosenblatt maintains Buy on Qualcomm, raises target to $265

0 min read | Published on 25 Jun 2026, 08:00 PM |Updated on 25 Jun 2026, 08:00 PM

Reviewed by

Radhika SScanX News Team

Key Highlights

Rosenblatt analyst Kevin Cassidy maintains a Buy rating on Qualcomm and raises the price target to $265 from $190, indicating a positive outlook.

*this image is generated using AI for illustrative purposes only.

Rosenblatt analyst Kevin Cassidy has maintained a Buy rating on Qualcomm and raised the price target to $265 from $190. The adjustment reflects an updated outlook on the company's stock performance.

Rating and Target Details

The analyst's recommendation continues to support a bullish stance on Qualcomm shares. The new price target of $265 represents a significant increase from the previous target of $190.

Metric	Value
Rating	Buy
Previous Price Target	$190
New Price Target	$265

The revised target suggests potential upside based on Rosenblatt's assessment of Qualcomm's business trajectory and market position.

What specific factors drove Rosenblatt to raise the price target by such a significant margin?

How might Qualcomm's upcoming product launches impact its ability to meet the new $265 target?

What competitive challenges could Qualcomm face in the semiconductor market over the next year?

Qualcomm targets $40B non-handset revenue by FY29

1 min read | Published on 25 Jun 2026, 02:16 AM |Updated on 25 Jun 2026, 03:02 AM

Reviewed by

Jubin VScanX News Team

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Key Highlights

Qualcomm Incorporated announced a fiscal 2029 non-handset revenue target of $40 billion at its 2026 Investor Day, driven by growth in AI, automotive, and IoT sectors. The company projects automotive revenue of $10 billion, IoT revenue exceeding $14 billion, and data center revenue surpassing $15 billion. Additionally, Qualcomm targets non-GAAP EPS of over $18 and GAAP EPS of over $14.50 for fiscal 2029.

*this image is generated using AI for illustrative purposes only.

Qualcomm Incorporated has raised its fiscal 2029 non-handset revenue target to $40 billion, approximately double its prior goal, as it accelerates diversification into artificial intelligence, automotive, and IoT sectors. The company outlined this comprehensive strategy at its 2026 Investor Day, emphasizing its evolution into a platform company spanning the entire compute continuum. This aggressive expansion targets a combined total addressable market of approximately $1.7 trillion by 2030 across devices, edge, and cloud. Following the announcement, Qualcomm shares rose 12.75% in after-hours trading to $222.57.

Strategic Revenue Targets

Qualcomm's updated fiscal 2029 goals for its QCT business include specific revenue milestones for key growth verticals. The company targets automotive revenues of $10 billion and IoT revenues exceeding $14 billion. Within the IoT segment, the company projects $8 billion from industrial, networking, and robotics, and $6 billion from personal AI and compute. Additionally, Qualcomm unveiled a comprehensive data center AI infrastructure strategy with a revenue target exceeding $15 billion by fiscal 2029. Handsets are projected to represent approximately one-third of QCT revenues by fiscal 2029.

Financial Outlook

Alongside revenue targets, Qualcomm provided earnings guidance for fiscal 2029. The company targets more than $18 in non-GAAP diluted EPS and greater than $14.50 in GAAP diluted EPS. The company anticipates that multiple large markets will reach inflection points over the next 3 to 5 years, driven by the distribution of AI compute across devices, edge, and cloud.

Metric	Target Amount	Fiscal Year
Non-handset Revenue	$40 billion	2029
Automotive Revenue	$10 billion	2029
IoT Revenue	>$14 billion	2029
Data Center Revenue	>$15 billion	2029
Non-GAAP EPS	>$18.00	2029
GAAP EPS	>$14.50	2029

How will Qualcomm's entry into the data center AI infrastructure market impact its competitive relationship with established chipmakers like NVIDIA and AMD?

What specific technological milestones must be achieved to reach the projected $10 billion in automotive revenue given current industry adoption rates?

How might the capital requirements for this diversification strategy affect Qualcomm's free cash flow and shareholder returns in the interim period?