Quick Read – Daiwa upgraded Qualcomm (QCOM) stock to Outperform from Neutral with an $85 price target increase to $225, citing a strategic shift toward AI infrastructure and data center silicon. – Qualcomm’s 22x P/E discount to NVIDIA (NVDA) and Advanced Micro Devices (AMD)…
uld compress if its data center pivot gains traction, making it a credible AI story worth monitoring ahead of the June investor day. – Daiwa upgraded Qualcomm (NASDAQ:QCOM) to Outperform from Neutral on May 8, 2026, raising its price target to $225 from $140. Analyst Louis Miscioscia argues that Qualcomm’s identity is shifting from smartphone chip supplier to broader AI infrastructure participant, and that the market is undervaluing the transition
The $85 price target raised by a single firm ranks among the most aggressive revisions of the year. For prudent investors, the analyst upgrade puts Qualcomm stock back on the watch list as a credible data center AI story, even as the legacy handset franchise wobbles. The Analyst’s Case Miscioscia asserts that Qualcomm could ride the same Arm-based AI inference trends fueling enthusiasm for Arm Holdings (NASDAQ:ARM) and Intel (NASDAQ:INTC).
As AI workloads migrate from NVIDIA (NASDAQ:NVDA) GPU-dominated training toward inference, Arm-based CPUs and accelerators gain relevance. The bank also cites Qualcomm’s relatively low valuation within semiconductors and flags the June 24 Investor Day as a catalyst for further detail on the data center roadmap. Securing additional hyperscaler design wins would be the proof point bulls need.