Melius Research Raises Qualcomm (QCOM) Price Target, Sees More Upside in AI Semiconductor Stocks
Key takeaways
- On May 18, Melius Research raised its price recommendation on QUALCOMM Incorporated (NASDAQ:QCOM) to $220 from $170.
- Earlier, on May 13, Freedom Broker downgraded Qualcomm to Hold from Buy while raising its price target to $200 from $165.
- QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry.
Melius Research Raises Qualcomm (QCOM) Price Target, Sees More Upside in AI Semiconductor Stocks Vardah Gill Fri, May 22, 2026 at 9:25 PM GMT+7 2 min read QCOM MU SNDK AMD INTC QUALCOMM Incorporated (NASDAQ:QCOM) is included among the 10 High Quality Stocks to Buy According to Hedge Funds.
On May 18, Melius Research raised its price recommendation on QUALCOMM Incorporated (NASDAQ:QCOM) to $220 from $170. It reiterated a Hold rating on the shares. The firm said that while “nothing really emerged as incrementally good from Trump going to China,” it was feeling “incrementally good” about memory and AI semiconductor companies. The analyst raised long-term estimates and price targets for all of the firm’s Buy-rated “bottleneck stocks.” These included Micron, Sandisk, AMD, Intel, and Marvell. The firm also said it still believes semiconductor companies will continue taking market value, or at least more upside potential, from traditional software firms and other non-chip companies within the Magnificent Seven over the long term.
Earlier, on May 13, Freedom Broker downgraded Qualcomm to Hold from Buy while raising its price target to $200 from $165. The firm described Qualcomm’s fiscal Q2 report as mixed and said the company’s fiscal Q3 outlook was “disappointing across the board.” Freedom Broker expects Qualcomm’s handset segment revenue to decline nearly 15% in fiscal 2026, followed by another 16% drop in 2027.