Wall Street Forecasts Qualcomm Stock Price for Next 12 Months

Since the beginning of 2024, Qualcomm has been actively expanding and positioning itself to take advantage of the growing artificial intelligence boom. While the company is well-known for its semiconductors for mobile devices and telecommunications, it has recently entered the automotive industry and computing markets. Additionally, Qualcomm has strengthened its strategic partnerships and secured long-term agreements with industry giants like Apple and Samsung.

These actions have had a positive impact on Qualcomm’s stock market performance, with shares up by 48.15% this year, reaching a price of $207.75.

However, analysts are cautiously optimistic about Qualcomm’s future performance. Out of 28 experts on TipRanks, 19 recommend buying the stock, 8 are neutral, and Wells Fargo advises selling. The price targets for Qualcomm shares are also conservative, with an overall forecast suggesting a potential 4.29% drop to $195.29 from the current price of $207.75.

Despite this, there are still bullish views on Qualcomm. Bank of America recently revised its 12-month forecast to $245 per share, while Wells Fargo maintains the lowest price target of $140 assigned in February 2024.

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