Qualcomm Inc (NASDAQ:QCOM) stock climbed more than 2% Monday, outperforming a weaker broader market as investors weighed the chipmaker’s data center opportunity against margin and fiscal 2027 earnings risks.
The Nasdaq fell 0.26%, while the S&P 500 declined 0.44%.
• Qualcomm stock is building positive momentum. What’s driving QCOM shares up?
Analysts Stay Bullish Despite Margin Pressure
BofA Securities analyst Vivek Arya maintained a Buy rating on Qualcomm but lowered his price forecast to $180, citing higher input costs and fixed mobile pricing.
Arya said Qualcomm’s data center progress remains promising, with two hyperscaler ASIC programs expected to begin generating revenue in the December quarter. However, he warned that faster-than-expected declines in Apple Inc (NASDAQ:AAPL)-related revenue and lower-margin initial data center sales still pose risks to fiscal 2027 earnings.
Rosenblatt analyst Sajal Dogra also maintained a Buy rating while cutting his price target to $235. He described the latest quarter as a meaningful reset despite near-term uncertainty.
Dogra said rising manufacturing costs, continued consumer weakness in IoT and lower-margin custom ASIC revenue could pressure margins for several quarters.
Top ETF Exposure
- First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL): 5.93% Weight
- Horizon Dividend Income ETF (NASDAQ:DIVN): 3.54% Weight
Significance: Because Qualcomm carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely trigger automatic buying or selling of the stock.
QCOM Price Action
Qualcomm shares were up 2.65% at $168.74 at the time of publication on Monday, according to Benzinga Pro data.
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