BofA Lifts PT on QUALCOMM (QCOM) – Here’s Why

BofA Lifts PT on QUALCOMM (QCOM) – Here’s Why Noor Ul Ain Rehman Sat, June 27, 2026 at 8:38 PM GMT+2 2 min read QCOM BAC QUALCOMM, Inc. (NASDAQ: QCOM ) is one of the best trending AI stocks to watch in 2026 . BofA lifted the price target on QUALCOMM, Inc.

(NASDAQ:QCOM) to $195 from $165 on May 23 and maintained an Underperform rating on the shares. The rating update came ahead of the company's investor day on Wednesday, June 24, with the firm stating that it is rolling forward in its valuation to calendar year 2028 estimates. However, it maintained an Underperform rating on the shares as it believes the company is re-entering a fast-growing but hyper-competitive AI market that is full of large incumbents as the company works to diversify away from handsets toward a broader AI compute platform spanning edge, auto/IoT, and data center.

Analyst Explains Why He’s Buying Qualcomm (QCOM) Despite Facing Hopes of Cellphone ‘Super Cycle’ In another development, Bloomberg reported on June 22 that according to people familiar with the matter, QUALCOMM, Inc. (NASDAQ:QCOM) is in advanced talks to acquire Modular Inc, the AI infrastructure software company, in a transaction valued at around $4 billion. It further reported that a transaction may be announced as soon as the upcoming week.

Bloomberg added that the people asked not to be identified since the information is private. QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry, including 3G, 4G, and 5G wireless connectivity and high-performance and low-power computing, including on-device AI. The company operates across various high-growth markets, including autonomous vehicles and smartphones.

QUALCOMM's Snapdragon augmented reality technology is the next generation of mobile computing. While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .

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