Morgan Stanley Upgrades Qualcomm (QCOM) but Remains Cautious on AI Roadmap
Key takeaways
- While Qualcomm's expanding data-center revenue opportunity makes it difficult to remain bearish, one investment firm remains skeptical due to its product roadmap and competitive positioning.
- According to the firm, QCOM's $5 billion in FY27 guidance for data center lands the company into the "data center winner" category.
- The $5 billion figure seems closer to reality, which makes it difficult to argue against the stock.
Morgan Stanley Upgrades Qualcomm (QCOM) but Remains Cautious on AI Roadmap Ghazal Ahmed Tue, June 30, 2026 at 5:26 PM GMT+7 2 min read QCOM QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 14 AI Stocks Making Moves on Wall Street: Nvidia, Micron, and More.
While Qualcomm's expanding data-center revenue opportunity makes it difficult to remain bearish, one investment firm remains skeptical due to its product roadmap and competitive positioning. On June 25, Morgan Stanley upgraded Qualcomm to Equal-weight from Underweight and increased its price target to $231 from $146.
According to the firm, QCOM's $5 billion in FY27 guidance for data center lands the company into the "data center winner" category. However, the $15 billion figure by FY29 is also surprising but less certain.