Shares of Qualcomm Inc (NASDAQ:QCOM) have been on a wild ride over the last month, with the stock up 80% and new all-time highs. The stock has gotten a boost from quarterly financial results, some recent news items, but another big catalyst could be coming this week.
Qualcomm CEO Heads to China
Qualcomm confirmed to Benzinga Monday that CEO Cristiano Amon is among the business executives that will be traveling to China to accompany President Donald Trump this week.
"Cristian Amon will join President Trump during his visit to China, representing Qualcomm and the strength of American technology leadership on the global stage," a Qualcomm spokesperson told Benzinga.
For Qualcomm, the trip comes with shares at all-time highs and also as the relationship between the United States and China has been at the center of a potential AI race. Chip companies like Qualcomm could benefit from strong relations between China and the United States and less restrictions on what items can be exported to the foreign country.
"Engineered in America and built for the world, Qualcomm is focused on enabling innovation, industrial growth, and global connectivity. We believe sustained engagement and collaboration are essential to advancing technology ecosystems that create value and shape the future of emerging technologies, from wireless standards and 6G to AI and advanced computing," the Qualcomm spokesperson added.
The inclusion of Amon on the trip with Trump to China comes after the technology giant recently announced a partnership with America250, the bipartisan organization set up to celebrate the 250th anniversary of the United States.
"For 250 years, American innovation has driven progress around the world – and what we build today will determine what comes next," Amon recently said. "Qualcomm is a proud American company creating technology for the world."
Amon said Qualcomm is honored to partner with Amercia250 to celebrate innovation ahead of more capabilities made in 6G, AI and advanced computing.
"We will continue to do our part to engineer human progress."
What's Next for Qualcomm
Qualcomm will host an Investor Day on June 24 with an update on growth initiatives, including opportunities in Data Center and Physical AI.
“We are in a period of profound industry transformation – the rise of AI agents is reshaping our roadmap across every platform we develop. We are equally excited by our entry into the data center, where a leading hyperscaler custom silicon engagement is on track for initial shipments later this calendar year,” Amon said after second-quarter financial results.
In a recent interview with Fortune, Amon said Qualcomm is collaborating with "pretty much all" the leading AI players, including OpenAI and Meta Platforms.
Amon said the partnerships center on hardware projects, some undisclosed, that see companies shifting from smartphones to wearable devices.
"There are some secret form factors that I cannot tell you about," Amon said.
With an upcoming Investor Day, partnerships with major AI companies, and a trip to China with President Trump could be among the latest catalysts for Qualcomm in 2026.
Qualcomm Stock Price Action
Qualcomm stock was up 8.4% to $237.53 on Monday. The stock hit a new all-time high of $247.90 earlier during Monday's intraday trading session. Qualcomm shares are up 36% year-to-date in 2026.
Photo: viewimage / Shutterstock
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