Qualcomm’s stock price target has been rebooted by analysts following a significant deal with Microsoft. During Qualcomm’s recent earnings call, President and CEO Cristiano Amon hinted at upcoming product launches and developments related to on-device AI, encouraging everyone to watch the Microsoft Build event for more details. Microsoft’s Build conference focused on the transformative impact of AI technology in various industries.
Microsoft’s recent announcement of AI integration in its devices, such as the Surface Laptop and Surface Pro tablet powered by Qualcomm chips, has sparked excitement in the market. Dell also revealed plans for AI-enabled PCs with Qualcomm processors and servers supporting Nvidia chips. These advancements are expected to drive upgrades and boost sales in the PC market, which has seen a decline in recent years.
Analysts are optimistic about Qualcomm’s position in the AI PC market, with potential for significant share gains. Benchmark analyst Cody Acree raised the price target for Qualcomm, highlighting the company’s strong positioning and growth prospects. Qualcomm’s stock has been on an upward trend, reaching $200 per share from $105 a year ago.
The collaboration between Qualcomm and Microsoft in launching AI-ready PCs has positioned Qualcomm as a direct competitor in the mainstream laptop market for the first time. This development marks a significant milestone for Qualcomm and underscores its growth potential in the evolving tech landscape. With the increasing focus on AI technology and its integration into devices, Qualcomm is poised for further success in the market.
