Qualcomm Jumps 11%, Then Pulls Back Amid Meta Platforms Data Center Deal and Wave of Analyst Target Hikes Quick Read – Qualcomm (QCOM) stock jumped 11% but then fell back after the company landed Meta Platforms (META) as its first-ever data center customer with the Dragonfly…
000 CPU, shipping in H2 2028. – Qualcomm doubled its fiscal 2029 non-handset revenue target to $40 billion and acquired AI startup Modular for $4 billion to challenge NVIDIA’s CUDA ecosystem. – Seven firms raised their Qualcomm stock price targets, but only Rosenblatt holds a Buy rating, with Barclays calling Qualcomm a “show-me story” and keeping its Underweight rating. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Meta didn’t make the cut. Grab the names FREE today
Shares of Qualcomm (NASDAQ:QCOM) surged as much as 11% to $219 in early Thursday trading before retreating to $207, up 5% on the session. This volatile price action occurred after the chipmaker landed a marquee data center customer and watched price targets ratchet higher across the Street. The apparently fragile QCOM stock rally comes as analysts reassess Qualcomm’s diversification trajectory beyond handsets.
The move follows Qualcomm’s Investor Day 2026 in New York and partially recovers ground after a softer stretch. Year to date, Qualcomm stock is still up 18%. Meta Platforms Data Center Deal Headlines a Strategic Pivot Qualcomm announced a strategic multi-generation agreement with Meta Platforms (NASDAQ:META) to supply data center CPUs for Meta Platforms’ next-generation server fleet, making Meta Platforms Qualcomm’s first data center customer.