JPMorgan Expects Ambitious Data Center Targets From Qualcomm (QCOM) - Yahoo Finance

JPMorgan raised Qualcomm's price target from $160 to $265, maintaining a Neutral rating ahead of its investor day on June 24. The firm expects Qualcomm to unveil ambitious data center revenue targets ... Read original →

Qualcomm’s data center bet leverages its mobile SoC power-efficiency edge into server AI—a move pressuring TSMC to reallocate sub-3nm CoWoS capacity and forcing ARM-based server players like Ampere to accelerate software stack maturity. However, under tightening U.S. export controls on advanced chips to China, Qualcomm’s reliance on foundries in Taiwan, China could inflate compliance costs by over 30% if targeting mainland Chinese customers. NVIDIA and AMD will counter with full-stack CUDA/OpenROC lock-in, while Intel may bundle Gaudi 3 with telco edge deployments. The next 18 months hinge not on revenue projections but on building end-to-cloud developer stickiness; without deep model-chip co-optimization via its rumored OpenAI NPU deal, the $35B target risks becoming vaporware.