Qualcomm investor day sharpens AI data center push, shares under Wall Street scrutiny

Qualcomm plans to outline a broader AI and data center strategy at its investor day, while Bank of America lifts its long-term price target but keeps an Underperform rating on the NASDAQ-listed chip designer.

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-24, 07:09.

Qualcomm (US7475251036) prepares for an investor day this Wednesday on NASDAQ. Bank of America has raised its longer-term valuation metrics ahead of the event while maintaining an Underperform stance on the shares, according to an Investing.com note.

What Bank of America projects

Bank of America lifted its price target for Qualcomm from 165 to 195 dollars, based on estimates for calendar year 2028 and an earnings multiple of about 15 times. The bank still rates the stock Underperform and highlights roughly 2.5 billion dollars of expected AI-related revenue by 2028.

The analyst update points to AI infrastructure and data center exposure as key elements of Qualcomm’s long-term growth narrative. It also suggests that valuation upside is constrained in the near term despite the raised target, reflecting caution on the broader semiconductor cycle.

Investor day focus on data center AI

Qualcomm’s investor day, scheduled for Wednesday, is set to detail expanded data center plans and AI strategy, according to the same analyst report. Management is expected to discuss how its system-on-chip and accelerator offerings can support cloud and enterprise workloads beyond smartphones.

The event comes as Qualcomm explores a roughly 4 billion dollar acquisition of Modular Inc., an AI infrastructure software firm, with negotiations described as advanced in recent reports. That potential deal would deepen Qualcomm’s position in AI software tooling for data centers and edge deployments.

The business behind Qualcomm’s AI push

Qualcomm’s core business remains its QCT segment, which supplies application processors and baseband modems for smartphones and connected devices. The company also generates licensing income through its QTL segment, leveraging a broad portfolio of wireless and cellular patents across 3G, 4G and 5G standards.

Recent commentary has emphasized diversification into automotive, Internet of Things and data center compute to reduce reliance on handset cycles. The possible purchase of Modular Inc. would complement this by adding AI infrastructure software, supporting developers building and deploying models across Qualcomm-powered hardware.

Where the Qualcomm shares trade today

Qualcomm shares (US7475251036) last closed on NASDAQ at 204.13 dollars on June 23, 2026, according to TradingKey.

Qualcomm at a glance

• Company: QUALCOMM Incorporated
• ISIN: US7475251036
• WKN: 883121
• Ticker: QCOM
• Trading venue: NASDAQ
• Price (as of 2026-06-23, 16:00): 204.13 USD
• Market cap: 219.24 billion USD (as of 2026-06-23)
• Sector / industry: Semiconductors & Semiconductor Equipment
• Index membership: S&P 500, NASDAQ-100
• Next earnings date: not officially scheduled

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities.