TD Cowen raises Qualcomm target price to $185 from $160

TD Cowen raises Qualcomm target price to $185 from $160

TD Cowen has significantly increased its target price for Qualcomm Incorporated (QCOM) to $185, up from a previous estimate of $160. This move reflects the firm's bullish outlook on the wireless technology company's prospects, particularly in the AI and 5G markets.

The decision comes amidst a flurry of activity surrounding Qualcomm's potential acquisition of parts of Intel's chip design business. While the likelihood of such a deal remains uncertain, the rumors have sparked interest and speculation among investors [1].

TD Cowen's analysts highlighted Qualcomm's strong position in the AI and 5G sectors, noting that the company's recent advancements in AI PC chips and its strategic partnerships with major tech firms, such as Google and Samsung, are key drivers for the upward revision in the target price.

Moreover, the firm's recent announcement of a new AI PC chip has further bolstered investor confidence in Qualcomm's ability to capitalize on the growing demand for AI-powered devices. The unveiling of this chip, which is designed to support advanced AI applications, aligns with Qualcomm's broader strategy to expand its footprint in the AI market [2].

Investors should also consider the broader industry trends and regulatory environment. The European Union's recent reduction in Qualcomm's antitrust fine, albeit maintaining the core penalty, suggests a more favorable regulatory climate for the company. This could further support Qualcomm's growth prospects [3].

In conclusion, TD Cowen's upward revision of the target price for Qualcomm reflects a positive outlook on the company's strategic positioning and growth prospects. While the potential acquisition of Intel's chip design business remains uncertain, Qualcomm's strong fundamentals and market leadership in AI and 5G technologies provide a solid foundation for future growth.

References:
[1] https://finviz.com/quote.ashx?t=QCOM
[2] https://www.marketbeat.com/instant-alerts/filing-lattice-capital-management-llc-sells-8100-shares-of-qualcomm-incorporated-nasdaqqcom-2025-07-10/
[3] https://www.reuters.com/technology/eu-court-upholds-qualcomms-antitrust-fine-2025-07-10/